Consumer companies rose as traders bet regional-bank instability would spur a Federal Reserve rate cut in June.
Peloton Interactive shares fell after the exercise-bike distributor recalled 2.2 million exercise bikes due to faulty seat posts that could break and may cause injuries.
Tapestry shares rallied after the luxury conglomerate, which owns the Coach, Kate Spade and Stuart Weitzman brands boosted its projection for 2023 earnings.
Shares of Tapestry peer and Michael Kors owner Capri Holdings rose in sympathy. One brokerage said recent credit-card data suggested that services and retail spending was set to slow.
"We expect a tepid April retail sales report," said strategists at brokerage Bank of America Global Research, in a note to clients.
Adidas plans to sell millions of pairs of unsold sneakers from its now-defunct Yeezy partnership with rapper Kanye West and donate the proceeds to charity.
Shares of meat-substitute maker Beyond Meat fell to their lowest level on record after posting a decline in quarterly sales.
Coca-Cola is testing technology in Europe that turns hard-to-recycle plastic into new bottles, as part of its effort to meet its sustainability goals.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-11-23 1714ET
