Consumer Cos Up After Jobs Data — Consumer Roundup

Consumer companies rose as stronger-than-anticipated jobs data offset rising fuel costs. One strategist said the tensions in the Middle East could lead to concerns shifting back to inflation from economic strength.

"The concern is that oil prices and gas prices rise and therefore it pushes prices up and pushes inflation up," said Quincy Krosby, chief global strategist at brokerage LPL Financial. "U.S. consumers do associate higher gasoline prices with higher inflation."

U.S. Global JETS exchange-traded fund, a basket of major carriers, rose as labor-market growth hopes eclipsed concerns about gas prices, for now. Spirit Airlines shares slid after reports that the low-cost carrier is in talks with bondholders about a potential bankruptcy. Norwegian Air Shuttle said it would prioritize cost-saving measures as a strike at Boeing further delays deliveries of new aircraft.

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

(END) Dow Jones Newswires

October 04, 2024 18:09 ET (22:09 GMT)

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