Consumer stocks were lower Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) falling 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.1%.
In corporate news, Tesla's (TSLA) troubles have intensified with the imposition of new tariffs by the Trump Administration, further adding to softer Q1 delivery expectations driven by brand damage from its political associations, Wedbush said in a note Sunday, as it lowered its price target for Tesla to $315 from $550 while maintaining its outperform rating. Tesla shares were falling 1.6%.
Walmart (WMT) could withdraw its fiscal 2026 guidance due to volatility linked to President Donald Trump's reciprocal tariff announcement, Oppenheimer said in a Monday client note, ahead of the retail giant's Analyst Day event this week. Walmart shares were rising 1.4%.
Mesa Air (MESA) shares jumped 43% after the Mesa Airlines parent agreed to merge with Republic Airways in an all-stock deal.
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