Consumer companies fell as traders reversed bets that the Federal Reserve would soon intervene to cut interest rates.
The Institute for Supply Management said its service-sector PMI rose to 51.6% in April from 50.8% in the prior month. One brokerage said the negative impacts of tariffs could still be underestimated on the stock market. "Tariffs could push the rate of headline and core PCE inflation to 3.5% and 4.0% by year-end," from current levels around 2%, said economists at brokerage Morgan Stanley.
The brokerage "expects tariffs to act as a consumption tax, pushing growth in real household spending towards zero later this year."
Shoe maker Skechers agreed to become a privately held company through a $9.42 billion deal with 3G Capital.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
May 05, 2025 17:44 ET (21:44 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。