Consumer stocks were mixed Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 1.3%.
In corporate news, Tyson Foods (TSN) raised its full-year revenue growth outlook as the meat producer reported better-than-expected fiscal Q1 results. Its shares rose 2.1%.
Ford (F) sold 142,944 vehicles in January, a 6.3% drop from January 2024, the company said Monday. It sold 5,666 electric vehicles last month, a 21.2% gain from the year-ago period, and 13,295 hybrid vehicles, a 19.2% increase. Ford shares were down 1.8%.
Wedbush Securities said in a note that the auto sector supply chain "can adjust to a near-term shock and weather the storm" related to the Trump administration's recently announced tariffs on Mexico and Canada. The impact of the tariffs on General Motors (GM) and Ford will be minimal if the tariffs remain for 30 to 60 days, the analysts said. GM shares were shedding 3%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.