Retailers and other consumer companies rose as better-than-anticipated earnings and economic data alleviated fears about spending trends.

U.S. new home sales rose 2.3% to a seasonally-adjusted rate of 616,000 in December, the Commerce Department reported. Gross-domestic product expanded by a higher-than-forecast 2.9% rate in the fourth quarter.

Leading domestic carrier Southwest Airlines reported a fourth-quarter loss, reflecting the meltdown of its cancellation systems during the last week of 2022.

Bed Bath & Beyond shares plunged more than 20% after the retailer disclosed in a filing that it was in default on loans. 


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

(END) Dow Jones Newswires

01-26-23 1729ET