Consumer companies fell sharply after weak housing data.
Sales of new homes fell 4.7% to an annual rate of 634,000 in April, from a revised 665,000 in the prior month, the Commerce Department reported.
The report suggested that a rebound in mortgage rates weighed on demand, and forced sellers to reduce prices, as the median home price retreated.
Ralph Lauren shares rose after the fashion retailer posted better-than-expected fiscal fourth-quarter earnings that weighed against soft guidance for fiscal 2025.
BJ's Wholesale Club rose after the warehouse-style store posted first-quarter sales in excess of some investors' expectations.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-23-24 1708ET