Consumer Cos Gain, But Drop on Week, Amid Spending Fears - Consumer Roundup

Dow Jones01-04 06:06

Consumer companies rose, but remained in the red for the week, as traders hedged their bets on the growth of consumer spending.

One brokerage said the December employment report, due next week, is likely to be stronger than most investors fear.

"The labor market is not softening as suddenly as it appeared to do last summer," said economists at brokerage Morgan Stanley, in a note to clients.

Artificial intelligence is contributing to a historic streak of increases in U.S. worker productivity, The Wall Street Journal reported.

Shares of Anheuser-Busch, the maker of Budweiser, and Molson Coors fell sharply after the U.S. Surgeon General issued a new warning on the links between alcohol and cancer.

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

(END) Dow Jones Newswires

January 03, 2025 17:06 ET (22:06 GMT)

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