Consumer stocks rose late Wednesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) edging up 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.8%.

In corporate news, Constellation Brands (STZ) Chief Financial Officer Garth Hankinson said the company expects at $20 million hit from aluminum tariffs over the remainder of its fiscal year. Constellation shares rose 4.6%.

Uber-backed (UBER) startup Moove is close to raising $1.2 billion in a debt round, which would fund the US rollout and expansion of an autonomous-driving fleet with Alphabet's (GOOG) Waymo, Bloomberg reported. Uber shares eased 0.1%.

Tesla's (TSLA) Q2 deliveries fell from a year earlier amid rising competition in electric vehicles, while the tally rose from the previous quarter. Tesla shares rose 4.3%.

Paramount (PARA) agreed to pay $16 million to settle a lawsuit filed by President Donald Trump against the CBS unit alleging the network edited a "60 Minutes" interview with rival Kamala Harris to enhance her image, news outlets reported. Paramount shares fell 2.1%.