03:33 PM EDT, 08/21/2024 (MT Newswires) -- Consumer stocks rose late Wednesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) climbing 1.2%.

In corporate news, Macy's (M) shares tumbled 12%. The company trimmed its fiscal full-year sales outlook amid an uncertain discretionary consumer market, while Q2 revenue fell.