Consumer stocks were higher Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.4%.

In corporate news, Lucid (LCID) CEO Silvio Napoli said Thursday on Bloomberg Television that the company finalized its work with restructuring advisers. Lucid's work with AlixPartners concluded after the adviser was brought in to help the electric-vehicle maker achieve $1.4 billion in cash savings this year, the report said. Lucid shares jumped past 8%.

XPeng (XPEV) plans to offer its technology to foreign automakers other than its partner Volkswagen as it looks for new revenue streams, Reuters reported. XPeng shares added 3.5%.

YETI (YETI) shares rose 3.3% after the company said it is targeting annual adjusted earnings per share growth of low double-digit to high teens and annual net sales growth of mid-single-digit to high-single-digit through fiscal 2030.