Consumer companies rose as investors grew optimistic about trade negotiations.
The prospect of major new tariffs on Chinese imports has cast a pall on the outlook for retailers' peak 2025 holiday season, with prospects of empty shelves and less affordable gifts. Hopes for compromise have stirred consumer-discretionary stocks. Shares of toy maker Hasbro rose almost 2% and are up by roughly one third since their lows in April.
J.M. Smucker shares tumbled after the food processor's fiscal-year outlook missed Wall Street's forecast, weighed down in part by higher costs in its coffee business and struggles with Hostess Brands.
United Natural Food cut its profit outlook for the year, a move it said reflects costs and charges associated with exiting a customer contract and optimizing its distribution network in the Northeast.
Shoe seller Designer Brands withdrew its outlook for the year, citing persistent instability and pressure on discretionary spending.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-10-25 1745ET
