Sector Update: Consumer Stocks Rise Late Afternoon
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Consumer stocks saw gains late Friday, with the Consumer Staples Select Sector SPDR Fund rising 1.4% and the Consumer Discretionary Select Sector SPDR Fund up 0.1%. Despite a drop in US consumer sentiment to a three-year low, Expedia shares surged 18% after a strong quarterly report. Tesla shares fell 3.2% following a compensation plan approval for CEO Elon Musk. Cracker Barrel shares increased 2% amid a proxy advisory recommendation against five directors, while Monster Beverage shares rose 5.5% after exceeding Q3 expectations.
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