Sector Update: Consumer Stocks Decline Late Afternoon

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%. Redbook US same-store sales rose by 8.2% from a year earlier in the week ended July 11 after an 11.5% year-over-year increase in the previous week. "Discounts continue to drive sales performance and often vary weekly based on store promotions and product availability," Redbook said. In corporate news, Lucid (LCID) on Tuesday denied rumors of exploring a potential bankruptcy filing. "The rumors are completely false," the company said in an emailed statement to. Lucid said it has "sufficient liquidity to carry its operations well into next year" and has not created a special board committee to assess the scenarios reported. Lucid shares were down past 15%. Yum! Brands' (YUM) Taco Bell has stopped serving lettuce and cilantro at some restaurants in the Detroit metro area amid a growing cyclosporiasis outbreak in Michigan, multiple news outlets reported Tuesday. Yum! Brands shares were shedding 2.5%. Uber (UBER) is in advanced talks with Delivery Hero.