Retailers and other consumer companies rose as traders positioned themselves for more muted inflation data.
Some retail chains declined after warning on holiday-quarter growth.
Lululemon shares tumbled after warning that profit margins were set to decline in the quarter ending Jan. 29.
Macy's slid after the department-store chain said its earnings would be in the mid-point of prior targets.
December was another "encouraging month" for inflation, said analysts at one brokerage. "Transportation services, food services, nonprofit services, housing, new cars, and furniture are much higher than usual on a year-on-year basis, boosted by supply constraints, rebounding demand, and base effects," said economists at brokerage Goldman Sachs Group, noting that used-car prices were coming down while rents were rising at a much less torrid rate, based on personal consumption expenditure data.
The risk of a wage-price spiral also appeared to be abating, said the Goldman economists.
Former McDonald's Chief Executive Steve Easterbrook agreed to a five-year bar from serving as an officer or director of a public company, to resolve a regulatory investigation over allegedly misleading statements he made about having sexual relationships with employees.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-09-23 1732ET
