Consumer Staples Fund Gains 11% in October, Tech Fund Falls 6.9%, Meta Reports $2.12B Cash Burn
Consumer Staples Select Sector SPDR Fund gained 11% in October, its best month since 1998, while tech fell 6.9%. Walmart rose about 15%. Meta reported negative free cash flow of $2.12 billion, its first cash burn since its 2012 IPO. Meta's shares fell nearly 7% on Thursday. General Motors shares dropped over 10% this week, the worst since March 2023.
