14.37%QQQQ 35.13 12.16%XLF 16.18 7.15%
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NEW YORK - With commodity costs on the rise and consumers cutting back spending, consumer staples stocks in the Standard & Poor's 500 index slipped 6 percent in the second quarter.
Overall, the S&P 500 has dropped 3 percent quarter-to-date.
Soft drink bottler Coca-Cola Enterprises Inc. was the worst performer, with its shares dropping 29 percent in the second quarter. The bottler has had to raise its prices to offset far higher commodity costs.
The top performer for the quarter, meanwhile, was brewer Anheuser-Busch Cos. Inc. The maker of Bud Light and Budweiser saw its shares rise 24 percent. The rise was in part due to speculation that Belgian brewer InBev S.A. would make an offer to buy the company. InBev announced its offer to buy Anheuser-Busch earlier this month.
The S&P 500 includes 41 consumer staples companies. The index itself is made up of 500 stocks that are considered to be widely held. They are chosen for market size, liquidity and industry grouping, among other factors.
Year-to-date, consumer staples shares are down nearly 9 percent.
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