Retailers and other consumer companies rose after a surprising rebound in consumer sentiment.

The University of Michigan survey of consumer sentiment rose to 64.6 in January and hit a nine-month high, reflecting easing worries about inflation and sliding asset prices.

"The 2023 outlook for real consumer spending -- the key driver of economic growth -- is relatively optimistic," said economists at brokerage Goldman Sachs Group, in a note to clients. "Positive wage growth and a 3.5% unemployment rate means the U.S. labor market is still extremely tight."

Bed Bath & Beyond has received more interest from suitors in its Buybuy Baby chain of infant-supply stores than for its core home-goods chain, with investment firm Sycamore Partners among those kicking the tires as Bed Bath prepares to file for bankruptcy, The Wall Street Journal reported.

Shares of Wendy's rose after the burger chain said it expected to report fourth-quarter revenue above Wall Street targets, and doubled its quarterly dividend. 


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

(END) Dow Jones Newswires

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