03:52 PM EDT, 10/16/2025 (MT Newswires) -- Consumer stocks declined late Thursday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) dropping 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 1.1%.

In corporate news, United Airlines (UAL) shares fell 6.4%, a day after the company reported Q3 revenue missed estimates, even as air travel demand improved, while earnings beat expectations.

General Motors ( GM ) and its joint venture partner, South Korea's Posco Future M, paused the second phase of a cathode plant in Quebec, which led to Vale (VALE) canceling plans for a nickel sulfate facility. GM shares dropped 1%.

Tesla (TSLA) argued for the reinstatement of Chief Executive Officer Elon Musk's $56 billion compensation package during the Delaware Supreme Court's hearing of the company's appeal, news outlets reported Wednesday. Tesla shares fell 1.7%.

Jack in the Box (JACK) shares dropped 9.3% after the company agreed to sell its Del Taco unit to Yadav Enterprises for $115 million.