Shares of retailers and other consumer companies rose slightly after mixed data.
Consumer confidence fell sharply to 113.8 in August from a downwardly revised 125.1 in July, reflecting increased concerns about the latest outbreak of Covid-19, data from The Conference Board showed.
The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 18.6% in the year that ended in June, up from a 16.8% annual rate the prior month, the highest annual growth rate since S&P began collecting data on home prices in major cities in 1987. Sales data from July have suggested that a home-buying frenzy is easing in much of the U.S., however.
"I was wondering if Delta didn't have a big impact on some housing data," said Randy Warren, chief investment officer at the Warren Safer-Equity Fund. "The housing numbers weren't fantastic. People [may have been] feeling like, 'I don't really need to go shopping this week, maybe I'll go out next week.'"
Allbirds, a purveyor of eco-friendly sneakers, filed for an initial public offering as the company said it aims to benefit from physical retail's recovery from the Covid-19 pandemic.
Procter & Gamble, the biggest U.S. manufacturer of toilet paper and paper towels, said it's ramping up production as demand increases.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
08-31-21 1723ET
