Consumer shares rose after U.S. jobs data remained robust last week, supporting worries that inflation could keep the Federal Reserve from reducing borrowing costs.

The New York Fed said that in March one-year-ahead inflation expectations remained unchanged at 3% for the third consecutive month, above the Fed's 2% target.

Tesla shares climbed 4.9% after Chief Executive Elon Musk said the electric vehicle maker would unveil its robotaxi on Aug. 8.

Shares of Apartment Income REIT surged 22% after The Wall Street Journal reported that Blackstone has agreed to buy the owner of upscale apartment buildings for about $10 billion.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

(END) Dow Jones Newswires

04-08-24 1701ET