Sector Update: Consumer

03:13 PM EDT, 09/23/2026 (MT Newswires) -- Consumer stocks were lower late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.3%. In corporate news, Paramount Skydance (PSKY) is considering asking Elon Musk to join a syndicate of equity investors in the media company as its acquisition of Warner Bros. Discovery (WBD) progresses, Semafor reported. Paramount CEO David Ellison's father, Larry Ellison, has long been close with Musk, the report said. Paramount shares were down 2.2%.