01:48 PM EST, 11/08/2024 (MT Newswires) -- Consumer stocks rose Friday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 1.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) gaining 1.8%.

In corporate news, Paramount's (PARA) Q3 earnings unexpectedly rose, and revenue fell more than Wall Street estimated. The shares slumped 5%.

Airbnb's ( ABNB ) Q3 earnings tumbled, while the vacation rental company's revenue topped Wall Street's estimates. The shares tumbled 7.6%.

Monster Beverage's ( MNST ) Q3 results trailed estimates amid softening demand and a tight consumer spending environment. The shares fell 0.6%.