Retailers and other consumer companies slipped amid consternation about the outlook for spending.

Most economists are anticipating a 2023 recession, which would lead to higher unemployment and more belt-tightening by consumers.

"Earnings expectations are also still not fully reflecting recession, in our view," said strategists at money manager the BlackRock Investment Institute, in a note to clients.

In a good sign for home-building trends, outlays for construction projects rose 0.2% in November to $1.81 trillion, the Commerce Department reported.


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

(END) Dow Jones Newswires

01-03-23 1702ET