Sector Update: Consumer Stocks Advance in Afternoon Trading
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Consumer stocks saw gains in afternoon trading, with the Consumer Staples ETF rising 0.1% and the Consumer Discretionary ETF up 0.6%. Amazon is contesting Saks Global Enterprises' bankruptcy plan, claiming breach of contract, while Paramount's lawsuit against Warner Bros. was not fast-tracked. Ford is negotiating battery purchases from BYD for hybrid vehicles and emphasized the need to update the US-Mexico-Canada Agreement. Amazon shares increased by 1%, while Paramount and Warner Bros. shares fell by 1.7% and 0.3%, respectively.
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