Shares of retailers and other consumer companies rose, but not by as much as the broad market, as investors rotated into value sectors such as financials and energy stocks.
Longer term, the passage of the coronavirus relief bill looks set to bolster consumer spending. The bill offers a $1,400 check to many Americans, an extension of a $300 weekly jobless-aid supplement, and a one-year expansion of the child tax credit.
Spanish clothier Industria de Diseno Textil, known as Inditex, said sales and earnings fell in 2020, but an exodus from Main Street shopping was offset by a sharp increase in e-commerce sales.
Tupperware Brands shares fell after the container seller logged quarterly operating earnings short of Wall Street targets.
Shares of GameStop tested February highs around $340 -- up roughly twenty fold on the year to date -- before moderating gains as day traders continued to chase momentum in the company's shares.
Carriers such as American Airlines and United Airlines rose after the passage of a new coronavirus relief bill allocated $14 billion to pay airline salary costs.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-10-21 1713ET
