Sector Update: Consumer

Last Updated: Tuesday, May 17, 2022 3:38 PM | MT Newswires

Consumer stocks were broadly mixed in Tuesday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) dropping 0.8% and the SPDR Consumer Discretionary Select Sector ETF (XLY) rising 2.5%. In company news, Jumia Technologies (JMIA) sped nearly 31% higher after the e-commerce company Tuesday reported a more than 44% increase in Q1 revenue over year-ago levels, rising to $47.6 million and beating the two-analyst consensus call expecting $47.1 million in revenue for the three months ended March 31.

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