Consumer companies rose as the major stock indexes drifted higher, with investors reluctant to place fresh bets in the holiday-shortened week.
Clorox posted minor gains after J.P. Morgan upgraded the bleach and cleaning products maker to neutral from underweight and also lifted its price target to $145 a share from $124. The firm said it is seeing improvement in tracked channel demand and the worst of the negative impacts from August's cyberattack is largely behind Clorox.
U.S. consumer sentiment in November continued to weaken on concerns that inflation could ramp up again. The final reading of the consumer sentiment index slid to 61.3 in November from 63.8 in October, according to data from a survey carried out by the University of Michigan. "Consumers appear worried that the softening of inflation could reverse in the months and years ahead," survey director Joanne Hsu said.
Write to Zaeem Shoaib at zaeem.shoaib@wsj.com
(END) Dow Jones Newswires
11-22-23 1559ET
