Sector Update: Consumer Stocks Edge Up Wednesday Afternoon

Consumer stocks were slightly higher Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) each edging up about 0.1%.

In corporate news, Netflix NFLX and the National Football League said that Netflix will stream two NFL games globally on Christmas Day. The streaming giant will also stream at least one NFL game on Christmas Day in 2025 and 2026 as part of a three-season deal. Netflix shares were down 0.4%.

Walt Disney DIS will cut marketing expenses for Disney+ streaming service to make a profit in that business, said Chief Executive Bob Iger. Disney shares fell 2.1%.

AMC Entertainment AMC and GameStop GME shares tumbled following a recent run in meme stocks. AMC dropped 18%, while GameStop sank 22%.