Sector Update: Consumer Stocks Decline Wednesday Afternoon

MT newswire2026/09/23 17:35

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01:35 PM EDT, 09/23/2026 (MT Newswires) -- Consumer stocks were lower Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.6%. In corporate news, McDonald's (MCD) said Wednesday it will provide $8.5 billion in support to franchisees through 2036 to accelerate restaurant modernization, technology deployment, and operational improvements. Its shares fell past 5%. KB Home (KBH) shares lost 1% after the homebuilder lowered its full-year housing gross profit margin estimates amid weaker market conditions and affordability pressures. Kimberly-Clark (KMB) has submitted remedies to address EU antitrust concerns regarding its $40 billion purchase of Kenvue (KVUE), Reuters reported. Kimberly-Clark shares were down 1%.

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