Retailers and other consumer companies fell as Treasury yields rose sharply, threatening to push mortgage rates higher.
Rising mortgage costs have already slowed the U.S. housing market: used-home sales fell 0.4% in August from July to a seasonally adjusted annual rate of 4.8 million, the weakest rate since May 2020, the National Association of Realtors said.
The median existing-home price fell month-over-month for the second straight month after reaching a record high of $413,800 in June, in what economists said was a steeper increment than could be attributed to seasonality.
Coty expects to double sales of its skin care products in coming years, a goal the beauty company has kicked off by homing in on consumers in China.
Food processor General Mills posted higher sales in its fiscal first-quarter as more consumers eat at home in response to higher prices, including from the food company, as costs escalate further.
Walmart plans to hire a relatively modest 40,000 additional seasonal workers for the busy holiday period.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
09-21-22 1703ET
