Consumer Cos Down on Fuel-Price Fears — Consumer Roundup
Consumer companies fell as the failure of peace negotiations in the Iran war stoked fuel fears.
Oil futures rose in New York, weighing on airlines and other travel firms such as booking website Expedia and Norwegian Cruise Line.
Shares of retailers such as LVMH, Family Dollar, Target and Walmart fell sharply, amid fears their customers would have to allocate more of their discretionary spending to gasoline purchases.
One strategist said discounters would suffer more than premium outlets such as Louis Vuitton owner LVMH.
"It's the haves versus have nots," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. Wealthy shoppers were likely to continue spending due to substantial gains in the value of their stock portfolios and housing in 2026. "To me the 'wealth effect' is a bigger deal as far as consumer spending than anything to do with fuel prices."
Dream Finders Homes submitted a bid last week to acquire Beazer Homes USA for about $704 million, the home builder said.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
May 11, 2026 18:05 ET (22:05 GMT)
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