Consumer Cos Up, But not by Much, on Credit Fears — Consumer Roundup
Consumer companies rose, but not by as much as the broad market, amid concerns about borrowing costs.
Yields on long-term bonds closed at 24-year highs, foreshadowing more increases in mortgage rates and more financial pressure on American consumers.
The Institute for Supply Management's purchasing managers index for services providers fell to 54.9 in September from 55.4 in August, but remains well within expansionary territory. One strategist said it was one of a number of recent indicators that could be viewed from a "glass half-full or glass half-empty" perspective. The components of the survey were "basically saying there's strong demand, rising prices and cautious hiring," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
Ariel Investments, a major Mattel shareholder, called for the toymaker to explore strategic alternatives following reports that Chief Executive Ynon Kreiz was leaving to join the merged Paramount and Warner Bros Discovery entity.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 05, 2026 17:38 ET (21:38 GMT)
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