Consumer Cos Fall as Yields Climb -- Consumer Roundup

Consumer companies fell as Treasury yields resumed their upward climb.

"Once again, it comes back to what's going on in the Fed," said JJ Kinahan, chief executive of IG North America and president of its brokerage tastytrade.

"You did see the 10 year yield get above 4% for a cup of coffee for the second straight day." The recent correction in oil futures is a positive sign on the inflation front, however, said Kinahan.

French supermarket chain Carrefour stopped selling PepsiCo products such as Pepsi-Cola, Doritos and 7Up due to what the group called unacceptable price increases, the latest tussle between the grocer and food manufacturers over pricing.

Food processor Conagra Brands' said fiscal second-quarter revenue and 2024 profit outlook fell short of analyst estimates, despite a better-than-expected quarterly profit.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

01-04-24 1727ET