Consumer companies rose after mixed economic data.

The S&P CoreLogic Case-Shiller National Home Price Index, which measures home prices across the nation, climbed 0.4% in March compared with February on a seasonally adjusted basis. The Conference Board's survey of consumer confidence slipped in May to a six-month low of 102.3.

One brokerage said economic data are set to deteriorate further. "Tighter credit conditions and decelerating profit growth will temper hiring activity, in our view," said strategists at brokerage BNP Paribas, in a note to clients.

"Risks may be felt disproportionately at smaller firms, where job growth has been concentrated recently."

California lawmakers passed a bill that would ban use of five chemical additives in food products, including a coloring agent found in Skittles and Red 3, which is used in packaged cookies, frostings and other snacks.

Home prices rose in March for the second straight month as a shortage of homes for sale spurred competition among home buyers.

Consumer staple shares fell as hopes for a debt-ceiling deal prompted a rotation out of defensive hiding places.

Beer brewer Anheuser Busch shares fell after analysts at brokerage Roth MKM boosted their rating on rivals Constellation Brands and Boston Beer, saying a boycott of Bud Light by conservative beer drinkers is likely to drag on through the summer, opening the door for other brands to pick up market share.

Food processing giant Nestle appointed Anna Manz from the London Stock Exchange Group to succeed Francois-Xavier Roger as chief financial officer.


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

(END) Dow Jones Newswires

05-30-23 1759ET