Sector Update: Consumer Discretionary Stocks Rise Wednesday Afternoon | So Good News


Consumer stocks were higher in Wednesday’s trading, with the SPDR Consumer Staples Select Sector ETF (XLP) up just 0.1% and the SPDR Consumer Discretionary Select Sector ETF (XLY) up 0.8%.

The University of Michigan’s consumer sentiment index rose to an updated reading of 56.8 for November, up from an initial reading of 54.7 and expecting market expectations to reach a final reading of 55 this month.

In corporate news, Manchester United ( MANU ) rose more than 19% in Wednesday’s trading, which is equivalent to 15% in the US share on Tuesday, after the Glaser family confirmed that they want to sell their majority stake in the UK Premier League. . Executive chairman Evram and Joel Glazer – who together with other family members have 97% of the club’s voting power – will also consider new investments or other activities as part of their review, according to the company’s statement late Tuesday.

Full Truck Alliance (YMM) rose nearly 14% after the Chinese trucking and equipment e-commerce platform late Tuesday reported non-GAAP Q3 net income of 0.46 Chinese renminbi ($0.07) per American share, more than double the 0.19 -per- ADS analyst means, while total revenue rose 46% over the previous year to 1.81 billion renminbi, and more than 1.7 billion renminbi Street view.

Nordstrom ( JWN ) fell 3.5% after the department store retailer late Tuesday reported non-GAAP Q3 earnings of $0.20 per share, nearly half the adjusted profit of $0.39 per share in the same period last year, when total sales fell 2.9 % to $3.55 billion. Analysts polled by Capital IQ, on average, were expecting Q3 adjusted earnings of $0.15 per share on sales of $3.49 billion.

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