Consumer stocks rose Thursday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.9% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.3%.

In sector news, US President Donald Trump unveiled late Wednesday a 25% tariff on imported cars and light trucks.

In corporate news, Tesla (TSLA) will be the carmaker least impacted by Trump's tariffs on car imports, while General Motors (GM) and German carmakers will be the most negatively impacted, RBC Capital Markets said. While Ford (F) and Stellantis (STLA) may be negatively hit, "Tesla could benefit meanwhile, given domestic production and competition from imports into the US," RBC said. Tesla shares rose 2.1%, GM fell 7.4%, Ford dropped 3.2%, and Stellantis declined 2%.

Ferrari (RACE) plans to adjust its pricing policy due to new US import tariffs on European cars. The automaker reaffirmed its financial targets for 2025 and said profitability margins may be hit by a 50 basis point reduction due to the new tariffs. Ferrari shares rose 2.3%.

Walmart's (WMT) Mexico unit will invest $6 billion in the country this year and plans to create 5,500 jobs, Bloomberg reported. Walmart shares added 0.6%.