01:57 PM EDT, 04/02/2025 (MT Newswires) -- Consumer stocks were mixed Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 2.1%.

In sector news, the implementation of 25% auto tariffs is expected to drive significant price increases leading to demand destruction of up to 3.2 million vehicles annually and a potential 15% to 20% reduction in vehicle sales, BofA Securities said.

In corporate news, President Donald Trump has told members of his inner circle, including Cabinet members, that Elon Musk will be stepping back in the coming weeks from his roles within the administration, Politico reported. Tesla (TSLA) shares rose 5.1%.

Domino's Pizza (DPZ) said it has joined DoorDash's ( DASH ) Marketplace platform under a new partnership with the company. DoorDash ( DASH ) shares climbed 4.4%, and Domino's was fractionally higher.

UniFirst ( UNF ) raised its full-year earnings outlook after its fiscal Q2 profit rose year over year, though the uniform rental company trimmed its 2025 revenue guidance. Its shares added 0.9%.