02:50 PM EDT, 06/02/2025 (MT Newswires) -- Consumer stocks were decreasing Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) fractionally lower.

In corporate news, Tesla (TSLA) Chief Executive Elon Musk's denial last year of a Reuters report about the cancellation of a planned $25,000 electric vehicle drew concerns from some senior executives, Reuters reported Monday. Tesla shares were falling 1.8%.

Walt Disney ( DIS ) is laying off hundreds of workers across its film and TV units, according to media reports Monday. Disney ( DIS ) shares were down 0.2%.

JetBlue Airways ( JBLU ) will not seek a merger with United Airlines (UAL) despite a partnership recently announced by the two airlines, Reuters reported, citing Chief Executive Joanna Geraghty. JetBlue ( JBLU ) shares rose 0.9%, and United added 1.2%.

Newsmax ( NMAX ) shares popped 4.9% after it said Monday it expects to be added to the Russell 2000 Index after the US market opens on June 30 as part of the 2025 annual reconstitution.