03:28 PM EDT, 08/19/2024 (MT Newswires) -- Consumer stocks rose late Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) gaining 1.1%.

In corporate news, Paramount Global ( PARAA ) , which has agreed to merge with Skydance Media, is expected to extend a deadline for other takeover bids if Edgar Bronfman Jr. makes an offer before Wednesday night, Bloomberg reported Monday. Paramount shares rose 0.8%.