Consumer Companies Up On Fed Bets - Consumer Roundup

Features Dow Jones Newswires

Shares of retailers and other consumer-services companies rose as traders bet the Federal Reserve's statement Wednesday wouldn't be as hawkish as previously feared.

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Analysts at brokerage Bank of America Merrill Lynch Global Research predicted that the statement will have "dovish undertones."

Interest rates are a critical factor in the outlook for home sales, which in turn affect a broad range of discretionary spending. Neiman Marcus Group Chief Executive Karen Katz said the company has abandoned talks to sell the luxury department store chain and will go it alone.

The Cheesecake Factory broke a seven-year winning streak, becoming the latest restaurant to succumb to pressures roiling the restaurant industry.

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

(END) Dow Jones Newswires

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June 13, 2017 16:39 ET (20:39 GMT)