Shares of retailers and other consumer companies fell amid concerns about the outlook for spending growth.
Federal Reserve Chairman Jerome Powell said the economic outlook has brightened but is advancing more slowly for low-wage workers, underscoring the need for continued support from policy makers.
Luxury stocks were mixed after one major cosmetics concern posted brisk sales growth. Makeup purveyor Estée Lauder shares fell sharply, even after it said it swung to a profit for the fiscal third quarter and saw sales increase worldwide, as investors appeared to look skeptically on executive claims that there would soon be a "makeup renaissance" as economies reopened.
Tyson Foods ticked up after the meat processor launched a new line of "plant-based" meat substitute products.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-03-21 1641ET
