Consumer companies fell after weak economic data, and warnings from one bellwether about the impact of inflation.
The consumer confidence index sank to 97.0 this month from a revised 103.1 in March, the Conference Board said.
"Consumers have a more cautious outlook with fewer vacations planned and less demand for big ticket items," said Jeffrey Roach, chief economist at brokerage LPL Financial.
"Softer consumer demand would certainly release some inflationary pressure, giving investors and policy makers some reprieve on rate expectations."
The S&P CoreLogic Case-Shiller 20-city house-price index rose a muted 0.6% in Fast-food chain McDonald's cited inflation as a factor in its lower-than-expected quarterly sales growth, and pledged to further cut prices to ease the pressure on its customers.
Restaurant Brands International edged past earnings expectations with its latest results while announcing plans to invest further in Burger King remodels.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-30-24 1739ET
