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Sector Update: Consumer

· 02/05/2021 08:28

01:28 PM EST, 02/05/2021 (MT Newswires) -- Consumer stocks were sharply higher in Friday trading, with the SPDR Consumer Staples Select Sector ETF climbing 1.2% while the SPDR Consumer Discretionary Select Sector ETF was rising 1.3%. In company news, Magnite (MGNI) rallied Friday, at one point racing almost 35% higher to a best-ever $58.50 a share after announcing its acquisition of the connected TV and video advertising platform SpotX from Luxembourgh-based media firm RTL Group for $560 million in cash and 14 million of its common shares valued at around $610 million.