03:55 PM EDT, 05/07/2025 (MT Newswires) -- Consumer stocks were rising late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.6%.

In sector news, US Treasury Secretary Scott Bessent is set to meet China's lead representative on economic matters in Switzerland later this week, the Treasury said in a Tuesday statement.

In corporate news, Lottery.com ( LTRY ) said Wednesday that it signed a letter of intent to acquire a 51% stake in DotCom Ventures, together with domain assets Concerts.com and TicketStub.com, in a deal valued at $10 million. Shares were down 1.8%.

Hain Celestial ( HAIN ) shares tumbled 48%. The company said Wednesday it has named Alison E. Lewis, a member of its board, interim president and chief executive following the departure of Wendy P. Davidson. Hain also said the board is conducting a comprehensive review to consider a broad range of strategic options to enhance value.

Walt Disney ( DIS ) lifted its full-year earnings growth outlook on Wednesday as the company reported an increase in fiscal Q2 adjusted earnings, buoyed by its entertainment and experiences businesses. Its shares jumped nearly 11%.

Uber ( UBER ) swung to a higher-than-expected Q1 profit year over year, but the ride-hailing company's revenue and gross bookings fell short of market estimates. Its shares fell 2.2%.