Shares of retailers and other consumer companies rose amid signs of a strong holiday shopping season.
Shares of Nike surged after the sneaker maker posted earnings ahead of Wall Street targets. There were some ominous signs for the inflation outlook, originating with consumer-products companies. General Mills is raising prices further in coming months as it grapples with what it says is an unprecedented combination of cost inflation and supply-chain disruptions.
Workers for Kellogg ended a two-and-a-half-month strike and voted in favor of a new five-year contract with the cereal-maker, a deal that the union says maintains workers' cost-of-living raises and guarantees no plants will be shut down for about five years.
Upward pressure on wages could further stoke inflation by driving up costs for producers, economists say.
Dole, the fruit and vegetable company best known for its bananas, is scouting the market for potential acquisition targets and working to streamline its operations after combining with Total Produce and listing on the New York Stock Exchange.
Procter & Gamble issued a voluntary recall of a variety of aerosol haircare products, after benzene, a cancer-causing chemical, was detected in some.
McDonald's said it will sell a digital startup it acquired nearly three years ago in a bid to boost sales at drive-throughs and digital kiosks to Mastercard.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-21-21 1652ET
