Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks decreased late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.4%.

In corporate news, QXO QXO struck a deal to buy Beacon Roofing Supply BBECN for about $11 billion, including debt. QXO shares rose 2.8%, and Beacon added 1.9%.

Tesla TSLA is recalling up to 46,000 Cybertrucks to fix the cant rail, a stainless-steel exterior trim panel that may "detach from the vehicle," according to a notification from the US National Highway Traffic Safety Administration. Tesla was down 0.3%.

The EU is delaying its proposed 50% tariff on American whiskey until mid-April, according to media reports. Shares of Brown-Forman BF.A, which makes Jack Daniels, added 0.2%.

Best Buy BBY said in its 10-K annual report Wednesday that new tariffs under the Trump administration could "adversely" impact its supply chain and increase costs. Best Buy shares were fractionally higher.