Shares of retailers and other consumer companies rose after surprisingly strong services-sector and retail-earnings growth.
The ISM Services Report on Business PMI for December increased to 57.2 from the 55.9 in November.
Consumers are returning to old habits in terms of travel and shopping even as some of the most severe Covid-19 outbreaks of the pandemic manifest themselves in many parts of the U.S.
Home-goods chain Bed Bath & Beyond said same-store sales in physical locations dropped 15% in the quarter ended, a far more modest retreat for sales than had been the pattern earlier in the year. Digital sales rose 77% in the three-month period, including 94% digital growth for the company's Bed Bath & Beyond banner.
Shares of L Brands, the parent of Victoria's Secret and Bath & Body Works, rose after it said holiday sales fell slightly. Same-store sales rose 5% for the quarter ended Jan. 2.
Food processor Conagra Brands said it's investing in added manufacturing capacity and marketing, aiming to maintain pandemic-driven sales momentum.
Corona beer brewer Constellation Brands shares rallied after the Corona importer reported November quarter earnings topped Wall Street targets.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-07-21 1724ET
