Sector Update: Consumer
Consumer stocks were lower late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.1%. In corporate news, Lucid (LCID) confirmed it is working with restructuring adviser AlixPartners but that industry rumors of a possible bankruptcy are "completely false," Lucid shares fell 13%.
Consumer stocks were lower late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.1%.
In corporate news, Lucid (LCID) confirmed it is working with restructuring adviser AlixPartners but that industry rumors of a possible bankruptcy are "completely false," Lucid shares fell 13%.