Consumer Cos Rally as Oil Plunges - Consumer Roundup

Consumer companies rallied as oil prices plunged, alleviating concerns about another bout of inflation.

The U.S. Global JETS exchange-traded fund, a basket of airlines, rose sharply. U.S. existing-home sales rose 0.8% in May from the prior month, but remained near multiyear lows as buyers grapple with elevated prices and mortgage rates, the National Association of Realtors said.

Shares of home builders, including KBHome, which reported earnings after the bell, rose. KB Home gave back some of its gains in late trading, after reporting a sharp drop in home deliveries.

Jeffrey Ettinger is returning to Hormel Foods to serve as its interim chief executive for 15 months, effective July 14.

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(END) Dow Jones Newswires

06-23-25 1736ET