Sector Update: Consumer Stocks Higher Late Afternoon

MT newswire2026/10/06 19:56

03:56 PM EDT, 10/06/2026 (MT Newswires) -- Consumer stocks advanced late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.2%. Redbook US same-store sales rose by 8.6% from a year earlier in the week ended Oct. 3 after an 8.2% year-over-year increase in the previous week. "Toward the end of the week, business increased in certain areas of the country as temperatures dropped," Redbook noted. Also, retailers ramped up discounts to compete with Amazon Big Deal Days that are taking place Oct. 6-7. In corporate news, Lamb Weston (LW) raised its full-year outlook on Tuesday as the frozen potato products supplier's North America operations remained a bright spot amid challenges elsewhere, driving a fiscal Q1 beat. Lamb Weston shares jumped past 7%. Uber (UBER) agreed to acquire US-based catering platform ezCater in a $2.3 billion cash deal, as the ride-hailing giant looks to expand its food delivery business to more customers. Uber shares were down 0.9%. McDonald's (MCD) franchisees are facing at least $800,000 per location in upgrade costs under the company's new multiyear plan, Bloomberg reported. Some franchise owners are balking the cost of the new initiative and have raised concerns about the expense and lack of details in recent meetings, the report said. McDonald's shares were fractionally lower. Paramount Skydance (PSKY) has completed its acquisition of Warner Bros. Discovery (WBD), creating a combined company called Skydance, the new entity said Tuesday. Under the terms of the deal, Warner Bros. shareholders received $31.01666668 in cash per share, and Warner Bros. shares ceased trading on Nasdaq on Tuesday, the company said. Skydance Class B shares started trading Tuesday on the New York Stock Exchange under the ticker SKYD. Skydance shares were down 3.8%.

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