SPY424.31+0.70 0.17%
DIA345.12+0.14 0.04%
IXIC14,069.42+49.09 0.35%

Sector Update: Consumer

05/10/2021 11:47

03:31 PM EDT, 05/10/2021 (MT Newswires) -- Consumer stocks were ending broadly mixed in Monday trading, with the SPDR Consumer Staples Select Sector ETF climbing 1.0% while the SPDR Consumer Discretionary Select Sector ETF was sinking 1.3% this afternoon.

In company news, Workhorse Group (WKHS) dropped almost 14% after the electric truck company cut its FY21 production forecast by over 44%, now expecting to produce around 1,000 vehicles this year compared with 1,800 units previously. Q1 sales also increased to $521,000 from $84,300 during the year-ago period but lagged the Capital IQ consensus expecting $2.3 million in Q1 sales.