Communications Services Down on Consumer Spending Worries - Communications Services Roundup

Communications-services fell as traders retreated from sectors sensitive to shifts in consumer spending.

The price of gasoline hit a multiyear high in the U.S., raising concerns about discretionary spending.

Shares of Paramount Skydance rose in late trading after the Hollywood studio logged earnings ahead of Wall Street expectations.

The union representing actors has reached a tentative multiyear deal with the major studios and streamers on a new contract, making unlikely a repeat of the 2023 strikes that crippled Hollywood for several months.

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(END) Dow Jones Newswires

05-04-26 1713ET