Consumer stocks were rising in Tuesday's pre-bell hours, with The Consumer Staples Select Sector SPDR Fund (XLP) up 0.3% and The Consumer Discretionary Select Sector SPDR Fund (XLY) was 0.5% higher.
Vera Bradley (VRA) shares were up over 2% after the company's largest shareholder, Fund 1 Investments, called for the company to explore strategic alternatives, including a potential sale or privatization.
Alibaba Group Holding's (BABA) cloud unit has cut prices by up to 85% on its large language AI models, Reuters reported, citing the company. Alibaba Group Holding shares were 0.6% higher pre-bell.
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