Sector Update: Consumer Stocks Softer in Afternoon Trading

Consumer stocks were lower Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.5%. Target (TGT) saw increased interest from activist investor Toms Capital, boosting shares by 2.3%. Coupang (CPNG) shares surged over 9% after resolving a data leak incident. Hyatt Hotels (H) is partnering with Chinese state-owned entities to launch joint ventures, but shares fell 0.1%.