01:51 PM EST, 12/20/2024 (MT Newswires) -- Consumer stocks were rising Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 1.2%.

In corporate news, Nike ( NKE ) shares shed 0.7% after it flagged revenue and gross margin declines in its fiscal Q3 amid increased transformation efforts, while its results for the preceding three-month period topped market estimates.

FedEx's ( FDX ) fiscal Q2 earnings rose more than analysts had expected while revenue missed forecast. The parcel delivery group unveiled plans to spin off its freight operations into a separate publicly listed company. Its shares were up 0.8%.

Netflix ( NFLX ) and FIFA have signed an agreement for the exclusive rights in the US to the 2027 and 2031 editions of the Women's World Cup, which will be the first competition to be fully acquired by the streaming company. Netflix ( NFLX ) shares added 1.2%.