Consumer companies rose, recouping some of their recent losses as a spike in oil futures leveled off somewhat.
Oil inched above $112 a barrel in New York as President Trump warned that the U.S. would begin attacks on Iranian infrastructure unless the Strait of Hormuz was reopened Tuesday.
One strategist said growth prospects in the retail sector could remain bifurcated. "With higher fuel costs and other potential implications due to the conflict, it seems as if the k-shaped recovery" will continue, said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "Airlines who are catering to the higher end seem to be doing quite well, and those catering to the lower end not so much. I think that's what we're going to see with retail as well."
Average U.S. gas prices topped $4.10 a gallon Monday, according to AAA. That could exacerbate inflation, which is already elevated.
The prices index in the Institute for Supply Management's survey of purchasing executives in the services industry rose to 70.7, from 63 a month earlier.
Activity in the housing market increased in March, according to real-estate technology firm Zillow, even as mortgage rates rose.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-06-26 1729ET
