01:47 PM EDT, 07/01/2025 (MT Newswires) -- Consumer stocks were higher Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 1.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.5%.

Redbook US same-store sales rose by 4.9% from a year earlier in the week ended June 28 after a 4.5% year-over-year increase in the previous week. Redbook noted an increase in customer traffic due to the promotions for Independence Day, summer heat waves and the demand for seasonal items.

In corporate news, Ford (F) shares popped 4.2% after the company reported Q2 sales of 612,095 vehicles, up 14% from a year earlier. The company said its market share rose to 14.3%, up 1.8 percentage points from the previous quarter.

Tesla's (TSLA) investors are concerned that renewed tensions between Chief Executive Elon Musk and President Donald Trump could pose regulatory headwinds to the electric vehicle maker's autonomous-driving journey, Wedbush Securities said Tuesday. Separately, Musk has taken over supervision of Tesla sales in the US and Europe, while Tom Zhu will oversee Asia, following the departure of Omead Afshar, Bloomberg reported Tuesday. Tesla shares were falling more than 5%.

Warner Music ( WMG ) is in talks to buy the catalog of rock group Red Hot Chili Peppers for over $300 million, as Warner Music ( WMG ) seals a $1.2 billion joint venture with private equity group Bain Capital, the Financial Times reported Tuesday. Warner Music ( WMG ) shares climbed almost 3%.

AMC Entertainment ( AMC ) said Tuesday that it secured more than $200 million in new funding as the movie theater company looks to refinance debt maturing next year. Its shares were dropping past 8%.