Consumer stocks were rising Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.5%.
In sector news, the Trump Administration is considering suspending its 25% tariffs on the automotive sector following pressure from auto manufacturers, Bloomberg reported.
In corporate news, Thor Industries (THO) shares fell nearly 16%. The company swung to an unexpected fiscal Q2 loss amid a challenging market environment, while the recreational vehicle maker lowered its full-year earnings outlook.
Campbell's (CPB) shares dropped 2.3%. The company on Wednesday reported fiscal Q2 revenue that fell short of analysts' expectations, and it cut its 2025 outlook.
Brown-Forman's (BF.A) fiscal Q3 earnings topped market estimates but revenue unexpectedly declined year over year, while the wine and spirits maker reiterated its full-year outlook. Its shares jumped past 9%.
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