Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed in late Friday afternoon trading, with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.5%.

In corporate news, Sweetgreen SG shares surged 34.6% after the restaurant chain reported stronger-than-expected Q1 revenue late Thursday underpinned by comparable sales momentum that RBC Capital Markets said has continued into Q2.

Home Depot HD and Lowe's LOW likely face "subdued" expectations for their upcoming financial results amid continued macro headwinds for the home improvement retail sector, Oppenheimer said Friday. Home Depot shares were shedding 0.6% while Lowe's was down 0.4%.

CarGurus' CARG shares popped 8.5% in recent trading, a day after the company reported Q1 non-GAAP net income of $0.32 per diluted share, up from $0.26 a year earlier.

McDonald's MCD plans to launch a $5 meal deal in the US to attract budget-conscious customers, Bloomberg reported Friday. The fast food giant's shares added 2.6%.