Sector Update: Consumer Stocks Advance Premarket Thursday

MT newswire2026/10/29 13:11

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09:11 AM EDT, 10/29/2026 (MT Newswires) -- Consumer stocks were advancing premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 1.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.8% higher. DoorDash (DASH) shares were up more than 6% after the company reported higher Q3 net income and revenue. Separately, DoorDash signed a definitive deal to acquire Maplebear (CART), also known as Instacart, for $65 per Instacart share, or an equity value of about $17 billion. Anheuser-Busch InBev (BUD) stock was down more than 2% even after the company posted higher Q3 underlying earnings and revenue. Altria Group (MO) shares were up more than 1% after the company posted higher Q3 adjusted earnings and revenue, and raised its fiscal 2026 adjusted EPS outlook.

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Goldman Sachs Volatility Panic Index surged to 9.57, approaching its maximum value, with the largest single-day increase ranking third in history, and the combined two-day volatility setting a new record. Historical data shows that after this index has exceeded the 9.5 threshold 15 times, the S&P 500 has seen an average three-month gain of 4.6% with a success rate of 80%. However, Goldman Sachs traders warn that forced liquidations have not yet fully cleared, and the market is still searching for a bottom, but opportunities on the other side are becoming increasingly difficult to ignore.

华尔街见闻•2026/11/07 07:31