CONSUMERS STA (XLP)

Wall Street traded slightly lower by midday Friday, as investors adopted a wait-and-see stance ahead of a potential trade breakthrough, with high-stakes negotiations between U.S. officials—led by Treasury Secretary Scott Bessent—and Chinese authorities set to unfold over the weekend.

The food giant has also urged suppliers to hike prices only if the tariffs become permanent.

Big money did not participate in the bear market rally this time around, reiterating the belief that downside isn't over yet, though not everything is doomed.

Sales grew year on year in April, but the pace was less than that in March.

The beverage giant raised its quarterly dividend by 5% to $1.4225 per share.

Utility stocks hit new highs amid trade policy uncertainty, with Utilities Select Sector SPDR Fund up 6.3% YTD. Constellation Energy Corp. jumps 11.87%.

CEO Donnie King said several of its products do not contain dyes and will remove them from the few that do by the end of the month.

Tyson Foods generated $13.07 billion in revenue during the quarter, missing analyst expectations of $13.14 billion.

Being prepared is important

U.S. stocks advanced across the board by midday Friday, with the S&P 500 eyeing its ninth consecutive day of gains—poised for the longest winning streak since May 2024.

The company will open a new facility in Ohio and expand its South Carolina plant.

Similar to peer Mondelez, Hershey is maintaining its full-year forecast.

​​​​​​​Technology was the top-performing sector in the market last week. But the devil is in the details this time.

Investors are pulling out of top tech ETFs, despite strong performance, in favor of blue-chip stocks. Defensive sectors see inflows as tech weakens.