Sector Update: Consumer Stocks Rise Late Afternoon

Consumer stocks were higher late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 1.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 2.6%.In corporate news, CarMax's (KMX) fiscal Q4 results are likely to come in better than expected amid improved industry trends, RBC Capital Markets said in a note sent to clients Wednesday. CarMax shares rose 3.2%.Airline and cruise operator stocks advanced following the overnight US-Iran ceasefire deal that boosted investor confidence and lowered geopolitical risk. Carnival (CCL) shares soared 10%, and United Airlines (UAL) surged 8.3%.Delta Air Lines (DAL) shares jumped 4.5%. The company on Wednesday reported better-than-expected Q1 results amid robust corporate and leisure demand, although it flagged a fuel expense increase of more than $2 billion in the current three-month period due to the Middle East war.Levi Strauss (LEVI) shares climbed 10% after the denim maker lifted its full-year outlook and reported an unexpected year-over-year increase in fiscal Q1 earnings.

-- Consumer stocks were higher late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 1.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 2.6%.

In corporate news, CarMax's (KMX) fiscal Q4 results are likely to come in better than expected amid improved industry trends, RBC Capital Markets said in a note sent to clients Wednesday. CarMax shares rose 3.2%.

Airline and cruise operator stocks advanced following the overnight US-Iran ceasefire deal that boosted investor confidence and lowered geopolitical risk. Carnival (CCL) shares soared 10%, and United Airlines (UAL) surged 8.3%.

Delta Air Lines (DAL) shares jumped 4.5%. The company on Wednesday reported better-than-expected Q1 results amid robust corporate and leisure demand, although it flagged a fuel expense increase of more than $2 billion in the current three-month period due to the Middle East war.

Levi Strauss (LEVI) shares climbed 10% after the denim maker lifted its full-year outlook and reported an unexpected year-over-year increase in fiscal Q1 earnings.