Consumer stocks were mixed Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.3%.

In corporate news, Paramount Skydance (PSKY) will become the exclusive distributor of UFC's fighting events in the US under a $7.7 billion media rights deal with TKO Group (TKO). Paramount shares fell 2%, and TKO jumped 8%.

Ford (F) shares declined 0.6% after it said Monday it plans to invest almost $2 billion in its Louisville, Kentucky, plant to build a midsize, four-door electric pickup truck.

Rumble (RUM) shares rose 4.3% after its Q2 net loss narrowed year over year, while the firm disclosed its intention to buy German AI company Northern Data.