Consumer Companies Lower After Housing Data -- Consumer Roundup

Features Dow Jones Newswires

Shares of retailers and other consumer-services companies declined after weak home-sales data.

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Purchases of new, single-family homes fell to a seasonally adjusted annual rate of 569,000 in April, down 11.4% from March, the Commerce Department said. Most Americans buy used rather than new homes, but the data were interpreted as a sign rising prices are destroying demand for higher-end homes.

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

May 23, 2017 17:22 ET (21:22 GMT)