03:34 PM EST, 11/22/2024 (MT Newswires) -- Consumer stocks rose late Friday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) climbing 1.1%.

In corporate news, Walmart ( WMT ) is gearing up once again to exceed its bonus target for US employees this year due to its stock performance and healthy sales, Bloomberg reported. The retailer's shares rose over 1%.

McDonald's (MCD) said on Friday it will launch its new McValue menu in the US on Jan. 7, featuring a $5 Meal Deal and a 'Buy One, Add One for $1' offer. Its shares added 0.4%.

Gap (GAP) is likely on course for a boost to its earnings estimates after the apparel company's fiscal Q3 benefited from a number of positive surprises, Morgan Stanley said. Gap shares jumped nearly 12%.

Ross Stores ( ROST ) shares gained 1.7% as the discount retailer lifted its full-year earnings outlook despite lower-than-expected fiscal Q3 sales amid softening consumer discretionary spending.