01:56 PM EDT, 05/08/2025 (MT Newswires) -- Consumer stocks rose Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) up 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) climbing 1.8%.

In economic news, the UK said it secured the first trade deal with the US, with the agreement covering various industries including UK steel and British car makers. For the automotive sector, the two countries agreed to cut car export tariffs to 10% from 27.5%.

In corporate news, Papa John's International (PZZA) affirmed its guidance for a rebound in system-wide sales this year as the pizza restaurant operator's Q1 revenue surpassed analysts' views. Its shares jumped 15%.

Anheuser-Busch InBev ( BUD ) reported better-than-expected Q1 earnings on Thursday, but the brewing giant's revenue fell more than market estimates amid volume weakness. Its shares rose 2%.

Warner Bros. Discovery ( WBD ) is moving toward a company split, and an announcement may come "in the not too distant future," CNBC's David Faber reported Thursday. The company's shares gained 5.6%.