Consumer Companies Up On Spending Views -- Consumer Roundup

Features Dow Jones Newswires

Shares of retailers and other consumer-services companies rose after strong jobs data boded well for discretionary spending.

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Employers across the country added 253,000 workers to their ranks in May, according to payroll processor Automatic Data Processing and forecasting firm Moody's Analytics.

Separately, initial jobless claims, a proxy for layoffs across the U.S., increased by 13,000 to a seasonally adjusted 248,000 in the week ended May 27, the Labor Department said. While the new weekly claims rose to a five-week high, the rolling average remained consistent with the expanding jobs market portrayed in the ADP report.

(-By Rob Curran, rob.curran@dowjones.com)

(END) Dow Jones Newswires

June 01, 2017 16:27 ET (20:27 GMT)