01:55 PM EDT, 08/15/2024 (MT Newswires) -- Consumer stocks rose Thursday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) gaining 1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) jumping 3%.

In corporate news, Ulta Beauty ( ULTA ) shares surged 12% after Berkshire Hathaway (BRK.A, BRK.B) reported its holding of about 690,000 shares in the cosmetics company.

Walmart ( WMT ) shares rose 6.8% after the company raised its full-year outlook as fiscal Q2 results topped market estimates amid gains across all segments.

Tapestry (TPR) reported better-than-expected fiscal Q4 results and expects 2025 earnings to rise from a year earlier. The shares climbed 3.5%.