Consumer stocks were higher Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.4%.

In corporate news, Walmart (WMT) and nonprofit insurer SCAN Health Plan are collaborating to offer a co-branded Medicare Advantage plan to seniors, pending regulatory approval, Bloomberg reported Wednesday, citing SCAN's national general manager, Zachary Myers. Walmart shares added 0.4%.

Paramount Skydance (PSKY) will meet with the Writers Guild of America and state attorneys general blocking its merger with Warner Bros. Discovery (WBD) for a two-day, court-mandated settlement conference starting Oct. 14, according to media reports citing a court filing. Paramount Skydance shares rose 1.3%, and Warner Bros. decreased 0.3%.

American Airlines (AAL) may need to cut capacity further in Q4 as high fuel prices continue to pressure the industry, Bloomberg reported, citing CEO Robert Isom. American Airlines shares were up 0.7%.