Consumer staples stocks were the best performers on Tuesday, Oct. 3, as Walmart Stores Inc. (WMT) led the Dow Jones Industrial Average higher.
Walmart shares rose more than 1% after the world's largest retailer acquired small New York-based company Parcel. The acquisition is a play to go head-to-head with Amazon.com Inc. (AMZN) in the same-day delivery market, first focusing on the New York City area. Details of the deal weren't disclosed.
Other stocks in the non-cyclical consumer space were caught up in the momentum, including Procter & Gamble Co. (PG) , Anheuser-Busch InBev NV (BUD) , Ambev SA (ABEV) and CVS Health Corp. (CVS) . The Consumer Staples Select Sector SPDR ETF (XLP) increased 0.2%.
Forget Farm To Table, Walmart Is Testing Web To Fridge
More of What's Trending on TheStreet: