Sector Update: Consumer Stocks Mixed Premarket Tuesday

09:09 AM EDT, 08/27/2024 (MT Newswires) -- Consumer stocks were mixed premarket Tuesday, with The Consumer Staples Select Sector SPDR Fund (XLP) 0.1% higher and The Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.2%.

Trip.com (TCOM) shares were up over 9% after the company reported higher Q2 non-GAAP income and net revenue.

JD.com (JD) stock was over 3% higher after the company said its board has approved a new $5 billion share repurchase program.

Gaotu Techedu (GOTU) shares were down more than 10% after the company swung to a Q2 loss of 1.65 renminbi ($0.23) per American depositary share from earnings of 0.21 renminbi a year earlier.