03:46 PM EDT, 03/18/2024 (MT Newswires) -- Consumer stocks rose late Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) gaining 1%.

In corporate news, Canoo ( GOEV ) shares soared nearly 53% after the company said its Oklahoma City facility was approved by the US Department of Commerce as a foreign trade zone. Under the FTZ, vehicles sold overseas will incur no custom duties, and duties on imported parts used in domestically sold vehicles will be deferred, the company said.

Tilray Brands ( TLRY ) , Canopy Growth ( CGC ) and Aurora Cannabis ( ACB ) were among the cannabis stocks that advanced Monday after US Vice President Kamala Harris convened a roundtable discussion about marijuana reform at the White House on Friday. Tilray Brands ( TLRY ) jumped 11%, Canopy surged 23% and Aurora soared 18%.

Soho House ( SHCO ) has been in talks with investment firm CC Capital to explore taking the members club operator private, Reuters reported Monday citing people familiar with the matter. Its shares spiked 19%.

Tesla (TSLA) gained 6.5% after the company said that prices of some of its Model Y cars in Europe will increase by about 2,000 euros ($2,177).