03:47 PM EDT, 05/24/2024 (MT Newswires) -- Consumer stocks were rising late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 1%.

In corporate news, Deckers (DECK) shares surged nearly 13% after the company late Thursday posted fiscal Q4 results that topped Wall Street's expectations.

Live Nation (LYV) was hit with a class-action lawsuit late Thursday in Manhattan federal court following the announcement earlier in the day that the federal government and several states were suing to break up the company over antitrust concerns. Live Nation shares were rising 3.4%.

Ross Stores ( ROST ) shares gained over 7% after several analysts raised their price targets on the stock following the company's forecast-beating Q1 performance.

Lucid (LCID) said it will terminate 400 employees, or 6% of its workforce, as part of a restructuring plan to cut costs amid a soft electric vehicle market. Its shares rose 1.3%.