Consumer Cos Climb After Housing Data -- Consumer Roundup

Consumer companies fell sharply, amid signs that any retreat in interest rates could heat up the economy to inflationary levels once more.

Used-home sales, which make up most of the housing market, increased 0.8% in November from the prior month to a seasonally adjusted annual rate of 3.82 million, an up-tick that followed five straight months of retreat, the National Association of Realtors said, a strong end to a lackluster year.

Consumer confidence jumped in December to a five-month high of 110.

Shares of teen retailer Abercrombie & Fitch rose and the longest win streak in 25 years, as investors enjoyed the best yearly performance since the apparel retailer went public in September 1996.

Winnebago Industries shares fell sharply after the recreational-vehicle maker reported earnings short of Wall Street targets.

Shares of General Mills fell after the maker of Cheerios and other breakfast cereals slashed sales guidance for the fiscal year, a sign that food inflation may be on the retreat.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

12-20-23 1734ET