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Sector Update: Consumer Stocks Mixed in Afternoon Trading
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Sector Update: Consumer Stocks Mixed in Afternoon Trading
Feb 3, 2025 11:24 AM

01:55 PM EST, 02/03/2025 (MT Newswires) -- Consumer stocks were mixed Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 1.3%.

In corporate news, Tyson Foods ( TSN ) raised its full-year revenue growth outlook as the meat producer reported better-than-expected fiscal Q1 results. Its shares rose 2.1%.

Ford (F) sold 142,944 vehicles in January, a 6.3% drop from January 2024, the company said Monday. It sold 5,666 electric vehicles last month, a 21.2% gain from the year-ago period, and 13,295 hybrid vehicles, a 19.2% increase. Ford shares were down 1.8%.

Wedbush Securities said in a note that the auto sector supply chain "can adjust to a near-term shock and weather the storm" related to the Trump administration's recently announced tariffs on Mexico and Canada. The impact of the tariffs on General Motors ( GM ) and Ford will be minimal if the tariffs remain for 30 to 60 days, the analysts said. GM shares were shedding 3%.

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