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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。