Retailers and other consumer companies fell as inflation fears lingered.
The Pending Home Sales Index, a leading indicator of home sales based on contract signings, rose 0.7% from April levels to 99.9 in May.
"Although we think a deep recession is unlikely, economic headwinds remain," said Mark Haefele, chief investment officer at money manager UBS Global Wealth Management.
"Elevated inflation is straining household finances, with U.S. retail sales falling on a month-over-month basis in May for the first time in five months."
McDonald's named insider Ian Borden its new finance chief as it seeks to revamp its U.S. franchise system and manage high inflation.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-27-22 1709ET
