Sector Update: Consumer

12:58 PM EDT, 09/02/2026 (MT Newswires) -- Consumer stocks were higher Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.3%. In corporate news, Uber (UBER) is reducing its workforce by about 10% as part of restructuring efforts aimed at removing management layers and reducing "complexity" across the business. Uber shares rose 2.2%.