09:12 AM EDT, 04/22/2026 (MT Newswires) -- Consumer stocks were advancing pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.2% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.6%.

Philip Morris International (PM) stock was up more than 2% after the company reported higher Q1 adjusted earnings and net revenue.

Travel + Leisure (TNL) shares were up more than 1% after the company posted higher Q1 adjusted earnings and net revenue.

Alibaba Group (BABA) and Tencent are in talks to invest in DeepSeek, which is seeking funding at a valuation of over $20 billion, The Information reported, citing four people with knowledge of the conversations. Alibaba Group shares were 0.7% higher premarket.