Consumer Stocks Down As Strong Data Can't Offset Car Fears - Consumer Roundup

Features Dow Jones Newswires

Shares of retailers and other consumer-services companies declined as strong services-sector and jobs data failed to offset fears about weakness in car sales. U.S. banks are slowing loans to car buyers as used-car prices retreat and the percentage of delinquent loans rises, The Wall Street Journal reported. Employers across the country added 177,000 workers to their rolls last month, according to payroll processor Automatic Data Processing Inc. and forecasting firm Moody's Analytics. The Institute for Supply Management said its index of nonmanufacturing activity rose to 57.5 in April from 55.2 in March.

Continue Reading Below

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

May 03, 2017 16:43 ET (20:43 GMT)