Sector Update: Consumer Stocks Rise Late Afternoon

03:54 PM EDT, 08/28/2026 (MT Newswires) -- Consumer stocks were higher late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 1%. US consumer sentiment dropped in August amid concerns that inflation will continue to be high for the "foreseeable future," final results of a University of Michigan survey showed Friday. The main sentiment index fell 6.3% sequentially to 51.7 this month. The gauge for current economic conditions decreased to 51.9 from 54.8, while the index of consumer expectations slid 7% to 51.5, according to the survey. In corporate news, Walt Disney's (DIS) Disney+ said Friday it signed a global distribution deal with The Pokemon Company International that includes a new stop-motion series created by Aardman, titled "Pokemon Tales: The Misadventures of Sirfetch'd & Pichu," set to debut on Disney XD and stream exclusively on Disney+ in 2027. Disney shares rose 1.1%. Lucid (LCID) is recalling 27,185 of its Air luxury US sedans because an exterior lighting circuit could overheat and increase the risk of a fire, Reuters reported, citing the US National Highway Traffic Safety Administration. Lucid is distributing an online software patch to fix the defect, with 20,719 affected vehicles already receiving the update, the report said. Lucid shares were down 1.9%. Walmart (WMT) has settled a US government lawsuit alleging its pharmacies unlawfully dispensed opioids and other controlled substances, Reuters reported Friday, citing a Justice Department statement. Walmart shares were up 0.3%. Gap (GAP) shares jumped 13% after the company raised its fiscal 2026 adjusted earnings guidance.