Consumer stocks were higher Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) rising 1.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 1.4%.

In corporate news, efforts have shifted from rescue to recovery operations with no survivors expected in the collision of an American Airlines (AAL) regional jet and a military helicopter near Washington, DC, officials said on Thursday. American Airlines shares decreased 2.2%.

United Parcel Service (UPS) issued a downbeat full-year revenue outlook after posting Q4 topline below market estimates. UPS Chief Financial Officer Brian Dykes said on an earnings call that the company has reached an agreement in principle with Amazon.com (AMZN) "to significantly reduce" the amount it delivers for them, setting a target of a 50% reduction by H2 2026. UPS shares fell 13.8%.

Tesla (TSLA) reported Q4 non-GAAP earnings late Wednesday of $0.73 per diluted share, up from $0.71 a year earlier but below the FactSet consensus estimate from analysts of $0.77. Its shares rose 3.6%.