03:44 PM EST, 11/14/2024 (MT Newswires) -- Consumer stocks were down late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 1.3%.

In corporate news, Rivian (RIVN), Tesla (TSLA) and Lucid (LCID) shares were falling past 14%, 5% and 4% in recent Thursday trading, respectively. Reuters reported that President-elect Donald Trump's transition team plans to end the $7,500 consumer tax credit for purchases of electric vehicles.

Wynn Resorts ( WYNN ) shareholder Tilman Fertitta is dissatisfied with the casino operator's performance and share price, Bloomberg reported. Wynn shares jumped 9%.

Dillard's (DDS) shares popped 12% after the company's fiscal Q3 earnings beat estimates.

Walt Disney ( DIS ) shares spiked 6%. The company's fiscal Q4 results exceeded market expectations buoyed by its streaming business, while the media and entertainment giant said it expects adjusted earnings growth in fiscal 2025 year over year.