Consumer stocks were rising late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) fractionally higher and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.4%.

In corporate news, Nike (NKE) delayed the launch of its new brand with Kim Kardashian's Skims label after production setbacks, Bloomberg reported. Nike shares were down 0.6%.

Unilever (UL) is exploring a sale of its snack brand Graze as part of plans to focus on its personal care and beauty segments, the Financial Times reported. Unilever shares were fractionally lower.

Full House Resorts (FLL) shares jumped 14% after the company disclosed in a regulatory filing that Chief Executive Daniel Lee bought more than 276,000 shares.

EU antitrust regulators are set to begin a full-scale probe into Mars' proposed $35.9 billion acquisition of Kellanova (K), Reuters reported Wednesday. Kellanova shares were down 1.5%.

Hasbro (HAS) shares were adding 0.8%. The company said late Tuesday it laid off about 150 employees, or 3% of its global workforce, as part of a multiyear restructuring plan.