Shares of retailers and other consumer companies fell slightly, as traders weighed the outlook for mortgage rates.
Federal Reserve Bank of St. Louis President James Bullard said the central bank could hike rates as soon as March, pushing up the yield on the 10-year Treasury note, used as a guideline for many mortgages.
Mr. Bullard's comments followed similar sentiments in the Fed's monetary policy meeting minutes. The minutes caught investors by surprise, but were offset by strong private-market jobs data, according to strategists at money manager UBS Global Wealth Management.
"Labor market strength, coupled with early indications of strong holiday spending, suggests that economic activity has held up reasonably well despite the very rapid spread of the Omicron variant," said the UBS strategists, in a note to clients.
Nike filed a lawsuit alleging Lululemon Athletica's Mirror home-fitness device and applications infringe on the sneaker company's portfolio of patents.
Bed Bath & Beyond shares rose after the homeware chain posted a big sales decline for the quarter that includes part of the holiday season, amid continued supply-chain disruptions that impeded its ability to get products on shelves.
Shares of Constellation Brands rose after the brewer and distiller reported sales that declined more modestly from lockdown levels a year earlier than Wall Street analysts had forecast.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-06-22 1728ET
