Consumer companies rose as weak economic data spurred hopes that the Federal Reserve's next policy move would be a rate cut.
Job openings declined by 338,000 to a seasonally adjusted 8.8 million in July from the prior month, the Labor Department reported.
Home prices were more or less flat in June, as rising mortgage rates have slowed property-market activity to a crawl in most states.
One brokerage said retailers' earnings reports were not as rosy as they appeared at first blush, with clear signs of consumer stress. "Market share gains and the shift to value/off price best explain top-line strength, and margin pressures abound with larger companies faring better than smaller ones," said analysts at brokerage Morgan Stanley.
The Conference Board's measure of consumer confidence dipped to 106.1 in August from a revised 114 in the prior month.
E.l.f. Beauty shares rallied after the cosmetics company announced the acquisition of skincare brand Naturium.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
08-29-23 1706ET
