Retailers and other consumer companies rallied after another round of modest inflation data triggered hopes that the Federal Reserve will take a dovish turn with its policy statement Feb. 1.
The core PCE-price index, which excludes food and energy, rose 4.4% in December from a year earlier, its slowest pace since October 2021.
Bed Bath & Beyond's path to restructure its business in bankruptcy is narrowing, as the home-goods retailer struggles to find financial support to keep its operations funded and avoid liquidation, The Wall Street Journal reported.
In a positive sign for consumer spending, the University of Michigan said its consumer sentiment index rose to 64.9 in January from 59.7 in December, slightly up from its mid-month reading of 64.6.
Pending home sales ended their six-month streak of declines in December.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-27-23 1734ET
