Consumer Shares Rise Led by Consumer Staples Stocks -- Consumer Roundup

Shares of retailers and other consumer-services companies were higher as consumer-staples stocks led gainers.

Job creation in the U.S. private sector rose in September compared with the previous month, as the labor market recovery continues but at a slower pace than in previous months.

General Motors, riding a wave of investor enthusiasm for its electric-vehicle plans, set one of its most ambitious financial targets in years Wednesday, telling investors it aims to more than double revenue by 2030. The Detroit auto maker also took direct aim at Tesla, saying it plans to take the lead in electric-vehicle sales in the U.S., without pegging a timetable.

Tesco on Wednesday raised guidance for the fiscal year after a strong first half and said that it is starting a share-buyback program.

Deals by private-equity funds to invest in wineries, vineyards and distributors have risen 75% in 2021 so far, compared with last year, according to Refinitiv. There has also been a jump in mergers and acquisitions, with companies spending $8.1 billion this year to snap up wine-related firms, compared with $1.8 billion last year, Pitchbook data showed.

The Mom Project Inc., a recruitment firm focused on mothers, raised $80 million in new capital at what may be a pivotal moment for working women and the companies that want to hire them.

Write to Amy Pessetto at [e-mail]

(END) Dow Jones Newswires

10-06-21 1702ET