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

(END) Dow Jones Newswires

05-23-24 1708ET