Consumer companies rallied as a plunge in oil prices eased inflation fears.

Oil futures dropped more than 5% in New York, closing at their lowest level since midApril.

The increase in gasoline prices to over $4.50 a gallon has weighed on discretionary stocks as Walmart and others warn about the impact on consumers' wallets.

Lululemon reached a deal with company founder Chip Wilson that will allow Wilson to name two new directors to the company's board after its annual meeting in June.

Sportswear chain Dick's Sporting Goods reported higher fiscal first-quarter sales as its efforts to turn around the recently acquired Foot Locker delivered results.

The Chinese owner of bargain-shopping app Temu reported quarterly profit shy of the average Wall Street target, amid fierce domestic competition and increased regulatory pressure.

Bath & Body Works reported lower first-quarter sales as the company overhauls its strategy in an attempt to return to growth.


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

(END) Dow Jones Newswires

05-27-26 1719ET