Consumer stocks were mixed late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 3.3%.

In corporate news, California Governor Gavin Newsom has expressed concerns about the effect on state employment should the state's lawsuit result in the blocking of Paramount Skydance's (PSKY) acquisition of Warner Bros. Discovery, The Wall Street Journal reported. The governor's office has encouraged Attorney General Rob Bonta's office to find an out-of-court resolution, the report said. Paramount shares rose 1.3%, and Warner added 2.9%.