Sector Update: Consumer Stocks Advance in Late Afternoon Trading

Consumer stocks were rising late Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) gaining 1.6%.

In corporate news, United Parks & Resorts (PRKS) shares slumped 4.8% after the company said Monday it expects Q2 revenue to be around $495 million to $500 million, compared with $496 million a year earlier. Analysts polled by Capital IQ expect $506.1 million.

Viad (VVI) said Monday that a wildfire that entered the Jasper National Park in Alberta, Canada, didn't reach its lodging properties in the northeastern section of the Jasper townsite. The company's shares were down 0.9%.

McDonald's (MCD) reported Q2 earnings and revenue below market estimates, while same-store sales declined across every segment amid cautious consumer spending and lower restaurant traffic in major markets. The shares still rose 3.7%.

Colgate-Palmolive's (CL) strong Q2 results confirmed its sustained organic sales growth outperformance compared with peers, Morgan Stanley said in a note Monday. Morgan Stanley lifted Colgate-Palmolive's price target to $111 from $103 and maintained its overweight rating. The company's shares added 1.7%.