02:00 PM EDT, 05/07/2025 (MT Newswires) -- Consumer stocks were rising Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.5%.

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. "I look forward to productive talks as we work towards rebalancing the international economic system towards better serving the interests of the US," Bessent said.

In corporate news, 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 past 10%.

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 2.6%.

Ford (F) is raising prices on three models produced in Mexico due to President Donald Trump's tariffs, Reuters reported Wednesday, citing a notice sent to dealers it reviewed. Ford shares were shedding 2.2%.