Sector Update: Consumer Stocks Rise Monday Afternoon

01:37 PM EDT, 08/24/2026 (MT Newswires) -- Consumer stocks were higher Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.4%. In sector news, the US will raise tariffs on all cars, trucks, automotive parts and steel from Canada to 50%, effective Jan. 1, 2027, President Donald Trump said Monday on Truth Social. In corporate news, Paramount Skydance (PSKY) had its Monday meeting with California officials canceled after State Attorney General Rob Bonta accused the entertainment company of leaking details and negotiating in bad faith over its proposed multi-billion merger with Warner Bros. Discovery (WBD), The New York Times reported. Paramount shares were up 0.2%, and Warner Bros. added 0.6%. Walmart (WMT) is launching a new women's clothing, bag and accessories store brand this week aimed at younger shoppers, The Wall Street Journal reported Sunday. Most of the items under the new Scenario line will cost less under $25, the report said. Walmart shares rose 1.4%. PDD (PDD) reported Q2 earnings ahead of Wall Street estimates on Monday even as operating expenses rose annually, though revenue fell short of expectations. PDD shares were down 1.1%. Expedia (EXPE) shares were rising 3.7%. Wedbush Securities said in a note Thursday the company delivered its fifth consecutive beat and raise in Q2, with full-year guidance raised on all three lines, as the business-to-consumer segment continues to see solid top-line improvement and stronger margin expansion.