Sector Update: Consumer Stocks Mixed Late Afternoon

03:47 PM EDT, 10/22/2026 (MT Newswires) -- Consumer stocks were mixed late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 2.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.8%. In corporate news, PepsiCo (PEP) shares rose 3% after it renewed its partnership with Taco Bell in the US and several markets overseas. The 11-year renewal in the US covers participating Taco Bell, Taco Bell Cantina, and Live Mas Cafe locations, the company said. Skydance (SKYD) received an investment of about $1 billion from Elon Musk, Semafor reported. The investment came around the same time as contributions from other investors, including board member Laurene Powell Jobs, the report added. Skydance shares were down 1.2%. Tesla (TSLA) reported better-than-expected Q3 adjusted earnings, while revenue slipped due to weakness in the automotive and energy generation divisions. Tesla shares were down 2.4%. Procter & Gamble (PG) lifted its full-year sales growth outlook to reflect an acquisition, while the consumer goods giant's fiscal Q1 earnings unexpectedly increased year over year. Its shares climbed nearly 6%.