Sector Update: Consumer Stocks Rally Premarket Tuesday

Last Updated: Tuesday, September 27, 2022 9:10 AM | MT Newswires

Consumer stocks were rallying premarket Tuesday. The Consumer Staples Select Sector SPDR Fund (XLP) was 0.6% higher and the Consumer Discretionary Select Sector SPDR Fund (XLY) was advancing 1.8%. (AMZN) was climbing 2% after saying it will hold a new 48-hour shopping event, Prime Early Access Sale, exclusively for its Prime members on Oct. 11 through Oct. 12.

United Natural Foods (UNFI) was advancing 2.5% as it reported fiscal Q4 adjusted earnings of $1.27 per diluted share, up from $1.25 a year earlier. Analysts polled by Capital IQ forecast $1.26.

Starbucks (SBUX) was 1.4% higher after saying it will open a new store in Shanghai on Friday, marking the company's 6,000th location in mainland China.

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