Consumer companies slipped after an unexpectedly dire reading of consumer sentiment offset strong retail sales data.
Retail sales rose 0.5% in July, in line with economists' forecasts. In a preliminary August reading, the survey's headline index dropped to 58.6, down from 61.7 in July, contrary to economists' expectations for an improvement.
"Retailers are reporting all next week, and that will give us another sense-check as to the health of consumers and the sustainability around pricing," said IG North America Chief Executive Pete Mulmat.
Mulmat said he's waiting to see if retailers' earnings and growth projections resonate with the University of Michigan survey or show signs of "cracks" in resilient consumer-spending habits, given inflationary trends.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
08-15-25 1726ET
