01:43 PM EDT, 10/16/2025 (MT Newswires) -- Consumer stocks declined Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.6%.

In corporate news, General Motors ( GM ) and its joint venture partner, South Korea's Posco Future M, have paused the second phase of a cathode plant in Quebec, which has led to Vale (VALE) canceling plans for a nickel sulfate facility, Bloomberg News reported, citing GM and Vale. GM shares were down 0.5%.

Tesla (TSLA) argued for the reinstatement of Chief Executive 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 were falling 1.3%.

Jack in the Box (JACK) shares fell past 8% after the company said it signed a deal to sell its Del Taco unit to Yadav Enterprises for $115 million in cash.

Fossil (FOSL) said it extended the expiration date on its offer to exchange its senior 7% debt notes by one week until Oct. 22. Fossil shares were down past 25%.