Consumer stocks advanced late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.3%.
In corporate news, Starbucks (SBUX) is expected to report continued sales momentum in fiscal Q3 as its turnaround plans and new sales initiatives supported a recovery in the US business, UBS Securities said in a Friday note. Starbucks shares added 0.7%.
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