Consumer stocks were mixed Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.5%.

In corporate news, Diageo (DEO) shares jumped nearly 5%. The company is looking into potentially spinning off or selling its beer brand Guinness that would likely be valued at more than $10 billion, Bloomberg reported.

The Trump administration has withdrawn a proposed ban on menthol-flavored cigarettes and cigars, Bloomberg reported. British American Tobacco (BTI) shares rose nearly 2% and Philip Morris International (PM) added 1.3%.

Costco (COST) shareholders have voted against a shareholder proposal requesting the company to report on the risks of maintaining its diversity, equity and inclusion initiatives, according to a FactSet transcript of the company's annual shareholder meeting. Costco shares were down 0.5%.