Consumer stocks fell Wednesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) dropping 1.9% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.1%.
In corporate news, Anheuser-Busch InBev (BUD) shares surged 8.2% after the company reported surprise increases in Q4 results despite volume weakness.
General Motors (GM) increased its quarterly dividend and announced a $6 billion share buyback program that includes a portion on an accelerated basis. GM shares jumped 3.7%.
Lowe's (LOW) reported better-than-expected fiscal Q4 results, while the home-improvement retailer's full-year earnings guidance trailed estimates by analysts. The shares rose 2.5%.
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