Sector Update: Consumer Stocks Decline Late Afternoon

03:49 PM EST, 11/12/2026 (MT Newswires) -- Consumer stocks fell late Thursday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.6%. In sector news, President Donald Trump said Thursday on Truth Social that he will double the amount of tariffs on Mexico if it doesn't prevent the movement of migrant caravans into the US. Trump linked the threat to what he described as a renewed influx of migrants. "With the perceived loss by the Republicans in the Midterms - I WAS NOT ON THE BALLOT - the INVASION of our Country is taking place again," Trump said. In corporate news, Yeti (YETI) lowered its full-year outlook on Thursday amid expectations of a cautious consumer environment during the holiday quarter, while the outdoor products company's Q3 sales missed market estimates. Its shares fell past 10%. Kraft Heinz (KHC) plans to return to growth next year following investments made this year, the company said Thursday. For 2027, the company expects adjusted operating income to decline in the low single-digits compared with 2026 and organic net sales to be relatively flat for the full year, with a return to growth in H2. Kraft Heinz shares rose 1.9%. IHeartMedia (IHRT) faces pressure from its heavy debt burden and ongoing challenges in terrestrial radio after Q3 results fell short of expectations, BofA Securities said in a report. BofA downgraded iHeartMedia's stock to underperform from neutral and cut its price target to $1 from $5. IHeartMedia shares dropped over 18%. General Motors (GM) unveiled two solar generation facilities in Michigan under a $550 million clean-energy project developed by NorthStar Clear Energy. The solar facilities in Branch and St. Clair counties have a combined capacity of 300 megawatts, with 92% allocated to GM. The automaker's stock were down 2.9%.