Sector Update: Consumer

MT newswire2026/11/09 19:21

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03:21 PM EST, 11/09/2026 (MT Newswires) -- Consumer stocks were higher late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 3.5%. In corporate news, PepsiCo (PEP) is cutting about 1,000 jobs in its food and beverage division to streamline operations, The Wall Street Journal reported, citing a letter from PepsiCo North America Chief Executive Ram Krishnan to employees that it viewed. PepsiCo shares were up 0.8%.

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NAION is an eye disease that can cause sudden, painless loss of vision, with some patients potentially experiencing permanent visual impairment. The drugs involved include products from Eli Lilly and Novo Nordisk. According to analysts at Citi, the incidence of NAION is relatively low, and given the significant benefits of GLP-1 drugs in weight control and blood sugar management, the actual impact on prescription behavior is expected to be limited. On Monday, the stock prices of Eli Lilly and Novo Nordisk increased, with the news not causing any significant impact on their share prices.

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