Sector Update: Consumer Stocks Softer Friday Afternoon

01:29 PM EDT, 09/18/2026 (MT Newswires) -- Consumer stocks fell Friday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 0.4%. In corporate news, Netflix (NFLX) shares fell 4.4% after Wells Fargo downgraded the stock to underweight from equal weight, citing concerning engagement trends. Toyota Motor (TM), General Motors (GM), and Ford Motor (F) joined a coalition of carmakers, dealers, and suppliers in urging President Donald Trump to maintain barriers that keep Chinese cars out of the US, Bloomberg reported. Toyota shares fell 1%, GM slumped 5.5%, and Ford shed 3.8%. On Holding (ONON) partnered with soccer star Kylian Mbappe, who will directly work with product teams testing and developing soccer footwear and apparel. Mbappe, previously with Nike (NKE), will also serve as a global ambassador for On, the company said. On shares rose 1.4%, and Nike fell 1.4%.