Shares of retailers and other consumer companies rose after a strong reading of consumer spending.
U.S. consumer spending rose by almost 12% in the second quarter, driving a robust 6.5% increase in gross domestic product, according to the Commerce Department.
The Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, decreased 1.9% to 112.8 in June compared with the previous month.
Supermarket chain Albertsons is preparing for a potential return of Covid-19 restrictions and lockdowns as the Delta variant pushes up the number of cases across the country.
Shares of Taco Bell parent Yum Brands rose after the fast-food chain reported earnings and sales that beat analysts' expectations.
The North American unit of Global Brands Group Holding, owner of brands such as Skechers, filed for chapter 11 protection, putting its apparel and footwear brands up for sale with help from a $16 million bankruptcy loan.
The Fed's favored measure of prices, the core personal consumption expenditure index, rose by more than 6% in the second quarter, far above the Federal Reserve's target of 2%.
New jobless claims dropped slightly to 400,000 for the week ended July 24 from a revised 424,000 the week before, the Labor Department reported. The four-week moving average, which smooths out volatility in the weekly figures, edged higher to 394,500.
Distiller and brewer Diageo reported a rise in pretax profit for fiscal 2021 on higher net sales but warned over possible headwinds in fiscal 2022 related to unfavorable currency movements.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-29-21 1656ET
