Consumer companies rose amid signs of a strong holiday-shopping season.
Proprietary credit-card spending data indicates a strong Black Friday shopping spree carried through into Cyber Monday, said analysts at brokerage Bank of America Global Research. Based on the data, "we forecast 0.5% [November] increases in both retail sales ex-autos and the core control group (retail sales ex autos, gas, building materials and restaurants)," said the BofA analysts.
Party-supply chain Party City is considering filing for bankruptcy and closing all of its stores just over a year after exiting a prior chapter 11, The Wall Street Journal reported.
Import inflation remains relatively muted, rising 1.3% in the 12 months up to November, according to recent data, but could soon increase if President-elect Donald Trump goes ahead with the stiffest U.S. tariffs in decades.
Retailers such as Target and Walmart could feel the pinch if the U.S. engages in a trade war with China or other major suppliers.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-13-24 1753ET
