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Consumer Cos Up; Home Depot, Lowe's Rise on Storm Threat -- Consumer Roundup

09/28/2022 | 05:18pm EST

Retailers and other consumer companies rose as a flight from risky sectors slowed in the wake of the Bank of England's intervention in British bond markets.

The British central bank said it would spend GBP1 billion to buy bonds, halting, at least temporarily, the relentless move higher in bond yields worldwide and the U.S. dollar.

Shares of home-improvement retailers Home Depot and Lowe's rallied amid anticipation that devastation from Hurricane Ian would generate demand in Florida. Property-data firm CoreLogic estimated that more than a million homes are at risk of being damaged by the storm.

While Hurricane Ian will likely boost demand at home-improvement stores, the storm could also disrupt building-materials supply chains, warned analysts at brokerage Wells Fargo.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

09-28-22 1717ET

Stocks mentioned in the article
ChangeLast1st jan.
LOWE'S COMPANIES, INC. -0.77% 209.385 Delayed Quote.-18.38%
THE HOME DEPOT, INC. -1.86% 320.35 Delayed Quote.-21.36%
WELLS FARGO & COMPANY -0.76% 47.07 Delayed Quote.-1.13%
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