Sector Update: Consumer Stocks Edge Higher Premarket Wednesday

MT Newswires Live

2024/10/16

Consumer stocks were edging higher premarket Wednesday as the Consumer Staples Select Sector SPDR Fund (XLP) was slightly advancing and the Consumer Discretionary Select Sector SPDR Fund (XLY) was up 0.1% recently.

Container Store Group (TCS) shares advanced by over 37% after the company said it signed an agreement for a $40 million investment from Beyond (BYON).

Jumia Technologies (JMIA) shares were up more than 1% after the company said it plans to close its operations in South Africa and Tunisia by year-end 2024 to focus its resources on its "most promising markets."

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