Consumer companies rose as traders saw Federal Reserve policy implications as a silver lining in dismal economic data.
The University of Michigan said Friday its preliminary index of consumer sentiment for May was 50.8, down about 3% from a final reading of 52.2 in April.
Fears that tariffs would cause a resurgence of inflation weighed on confidence, suggesting the likely de-escalation of the trade war and muted inflation data could cause a rebound in May.
Richemont shares rose after the Swiss maker of Cartier and other luxury watches posted sales growth ahead of Wall Street expectations.
JAB Holding tapped Jose Cil, a past chief executive of Burger King owner Restaurant Brands International, to serve as chairman of a new body uniting the private-equity firm’s restaurant brands, including Panera and Pret a Manger.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-16-25 1724ET