Sector Update: Consumer Stocks Retreat in Afternoon Trading

01:46 PM EDT, 09/29/2026 (MT Newswires) -- Consumer stocks were lower Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) shedding 0.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.1%. Redbook US same-store sales rose by 8.2% from a year earlier in the week ended Sept. 26 after a 7.6% year-over-year increase in the previous week. Redbook noted that sales were driven by everyday essentials and consumables, with cooler regions seeing stronger business. Business was disrupted in the northeastern US due to flooding, storms and power outages, Redbook added. In corporate news, the motion filed by Live Nation Entertainment (LYV) and its unit Ticketmaster to dismiss a lawsuit brought by the US Federal Trade Commission and several states was denied Monday by a federal judge in California. Live Nation shares were down 0.6%. Stellantis (STLA) will pause production temporarily at three factories in France in October, partly due to a shortage of long-range batteries for electric vehicles, media outlets reported Tuesday, citing the company. Its shares fell 4.2%. General Motors (GM) is cutting its production of Chevrolet Bolt electric vehicles by about 75%, Reuters reported Tuesday, citing a union official. Dontay Wilson, president of the local United Auto Workers chapter representing factory workers at the plant producing Bolt, told Reuters that the facility is on track to produce about 35,000 vehicles before its production ends in Q1 2027. The plant was initially set to produce 150,000 Bolt vehicles, Wilson added, noting that the estimated figures are based on the facility's daily volumes. GM shares were down 0.8%. Nike (NKE) is likely to issue a conservative Q2 guidance reflecting a continuation of current trends, while the firm could reset earnings expectations, RBC said in a note. RBC cut its price target on sector perform-rated Nike to $40 from $45. Nike shares declined 1.7%.