Consumer Cos Down on Fed Rate Concerns

Dow Jones
1 hour ago

Consumer companies fell amid concerns about rising interest rates and fuel costs.

The Federal Reserve raised interest rates for the first time since 2023, which could push up mortgage costs further.

Confidence among U.S. home builders hit the lowest level in more than a year in September, according to a recent survey by the National Association of Home Builders and Wells Fargo.

In one good sign for the sector, retail sales rose 1.2% in August.

Shares of restaurant chains remained under pressure after estimates of slowing traffic.

 

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