Consumer companies rallied as oil futures tumbled. Oil prices closed down 7.9% at $91.28 a barrel, suggesting an energy shock may soon wane, alleviating pressure on consumers.
Gucci owner Kering shares dropped after it posted a drop in first-quarter sales, echoing weakness in rival LVMH's results.
CarMax swung to a fourth-quarter loss after the dealership chain cut prices to regain market share in the used-car market.
"We're watching very carefully actual consumption," said Mark Malek, chief investment officer at brokerage Siebert Financial. "Those numbers are not necessarily showing the consumer is stressed. We also monitor very, very closely sentiment, and those numbers are absolutely off the cliff: already, the University of Michigan [reading] is at its worst since Eisenhower."
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-14-26 1702ET
