03:51 PM EDT, 07/02/2024 (MT Newswires) -- Consumer stocks were higher late Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) climbing 1.7%.

Redbook US same-store sales rose by 5.8% from a year earlier in the week ended June 29 after a 5.3% year-over-year increase in the previous week.

In corporate news, Paramount (PARA) is having discussions to sell its Black Entertainment Television network for $1.6 billion to $1.7 billion, Bloomberg reported. Paramount shares spiked past 5%.

JD.com ( JD ) is among the companies planning to bid for UK-based parcel delivery company Evri, Reuters reported Tuesday. JD shares rose 1.2%.

The US Federal Trade Commission has voted to block Tempur Sealy International's ( TPX ) $4 billion acquisition of Mattress Firm, the regulator said. Tempur shares were rising 2.2%.

Tesla's (TSLA) stronger-than-projected Q2 deliveries mark "a huge comeback" by the electric vehicle maker, with the worst now likely in the rearview mirror for the company, Wedbush said Tuesday. Tesla shares jumped about 9%.