Consumer companies rallied as the Federal Reserve's pivot to a dovish stance caused a plunge in mortgage rates.
The average 30-year mortgage rate fell beneath 7% for the first time in months.
The yield on the benchmark 10-year Treasury note closed at its lowest level since July, foreshadowing yet more decreases in mortgage rates.
The SPDR S&P Homebuilders exchange-traded fund, a basket of builders rose 5%, in anticipation of a revival in activity on the U.S. property market.
In a good sign for holiday shopping season, retail sales, which include spending at stores, restaurants, dealerships and online, rose a seasonally adjusted 0.3% in November from the month before, the Commerce Department said Thursday.
Italian distiller Davide Campari-Milano has entered into exclusive negotiations with Beam Suntory to acquire the owner of Courvoisier cognac for up to $1.32 billion.
A major and longtime shareholder in Gildan Activewear is pushing the Canadian clothing maker to replace its chairman and reverse a recent decision to oust its CEO.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-14-23 1742ET
