Consumer stocks gained late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) climbing 1.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.7%.
In corporate news, Winnebago Industries (WGO) shares jumped past 8%. The company logged better-than-expected fiscal Q2 results, though macro and industry headwinds prompted it to lower its full-year guidance.
Petco Health & Wellness' (WOOF) better-than-expected core profit results and guidance signal "solid" progress on its turnaround efforts, Wedbush said. Petco shares surged 30%.
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 6.8%, Ford dropped 3.3%, and Stellantis declined 0.7%.
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 0.9%.
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