Consumer Cos Down on Oil Price Fears - Consumer Roundup

Consumer companies fell due to concerns about resurgent energy inflation.

The average price of a gallon of regular unleaded gasoline in the U.S. was $4.29 Friday. Another spike in oil futures related to fears of escalation in the Iran war threatened to drive that price up further.

Consumer sentiment ticked slightly lower in October, hovering near record-low levels, according to the end-of-month reading from the University of Michigan's survey.

Luxury firms continued to lose ground. Shares of Gucci owner Kering fell by more than 10% and are down by more than 40% for the year to date due to its struggles reviving sales growth.

Home builders resumed their retreat following a bounce earlier in the week. "Conditions kept deteriorating into October with mid-7% mortgage rates, surging fuel prices, and plummeting consumer sentiment," said analysts at brokerage Raymond James, in a note to clients.

PulteGroup shares rose after the Raymond James analysts said the luxury home builder was among the best positioned to weather the storm in the U.S. housing market, thanks to the diversity of its customer profiles and geographic markets.

Deckers Outdoors shares fell after the Uggs maker posted revenue short of the average Wall Street target.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

October 23, 2026 17:39 ET (21:39 GMT)