Consumer companies rose slightly after a mixed batch of earnings.
Department store chain Macy's said it will close about 150 underperforming stores, or about 30% of its fleet, over the next three years.
Shares of Lowe's rose after the home-improvement retailer's earnings topped Wall Street targets.
J.M. Smucker shares rose after the maker of jams and other confiture reported stronger-than-expected third-quarter operating profit.
Shares of poultry processor Pilgrim's Pride rallied after it logged robust earnings growth.
Consumer confidence unexpectedly fell in February to 106.7 from a six-month high of 110.9 in January, the Conference Board said.
Consumers living paycheck-to-paycheck are cutting back more than ever as the cumulative effects of inflation take their toll on those in tenuous circumstances, said Goldman Sachs Group Chief Executive David Solomon.
Spanish retail giant Zara, which entered the beauty market with fragrance in 2000 and makeup in 2021, has now entered haircare, and it has chosen stylist Guido Palau to lead its entry to the market.
German sneaker maker Puma warned the devaluation of the Argentine peso weighed on profitability in the fourth quarter.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
02-27-24 1720ET
