Consumer stocks were declining late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.8% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 0.9%.
In corporate news, Delta Air Lines (DAL) on Wednesday provided a preliminary revenue forecast for 2025 while projecting that longer-term earnings will climb about 10% per year. Its shares were falling 2.4%.
McDonald's (MCD) is working on a new "McValue" offering for 2025 in an effort to attract customers, CNBC reported Wednesday. Its shares were easing 0.3%.
Ford (F) said Wednesday it plans to cut its European workforce by 4,000 positions by the end of 2027, primarily in Germany and the UK. Its shares dropped 3.6%.
Faraday Future Intelligent Electric (FFIE) shares jumped nearly 13% after the company announced the launch of development for its FX electric vehicle.
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