Retailers and other consumer companies rose sharply as traders bet the sector would benefit from a potential moderation in inflation.
Bed Bath & Beyond plans more layoffs and cost cuts after the home-goods retailer's cash pile and sales dwindled in the most recent period.
In a sign of growing wage inflation pressures in specialized professions, pilots at Spirit Airlines approved a two-year contract agreement that will boost their pay by an average of 34% over that period.
Albertsons shares rose after the supermarket chain said sales rose 8.5% in the recently ended quarter, reflecting higher prices for food and other household goods.
The Federal Trade Commission is investigating pricing practices in the U.S. beverage market by Coca-Cola and PepsiCo.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-10-23 1733ET
