01:47 PM EDT, 09/26/2024 (MT Newswires) -- Consumer stocks were rising Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) each adding 0.3%.

In corporate news, Southwest Airlines ( LUV ) shares jumped 6.1% after the company increased its Q3 guidance for a key revenue metric on Thursday while pledging to unlock $500 million in run-rate cost savings in 2027 through reduced hiring and other efficiency measures.

CarMax ( KMX ) on Thursday reported mixed fiscal Q2 results, with earnings falling short of Wall Street's estimates and revenue topping expectations. Its shares were rising 5.3%.

Cintas ( CTAS ) shares added 1%. The company raised its full-year guidance on Wednesday as it reported stronger-than-expected fiscal Q1 results.