Sector Update: Consumer

Consumer stocks were mixed pre-bell Wednesday as the Consumer Staples Select Sector SPDR Fund (XLP) retreated 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) recently advanced by 1.3%.

Tesla TSLA was up nearly 12% in premarket activity after the EV maker posted earnings late Tuesday and revealed plans to lower production costs and introduce more affordable models.