Consumer Stocks Up As Yellen Testimony Hints At Hike Pause - Consumer Roundup

Features Dow Jones Newswires

Shares of health-care companies were more or less flat as traders hedged their bets on the outlook for legislation.

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Senate Majority Leader Mitch McConnell announced Tuesday the Senate would begin its August break two weeks later than expected, as the chamber labors to pass a health-care bill.

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

Shares of most retailers and other consumer-services companies rose as traders bet the Federal Reserve would pause in its rate-hiking cycle. Addressing a global slowdown in inflation, Fed Chairwoman Janet Yellen testified to Congress that the Fed would change tack if downward pricing pressure persisted world-wide. Shares of American Airlines Group rose after the carrier boosted its outlook for revenue per passenger mile. Harley-Davidson shares fell after analysts at brokerage Bernstein cut their rating on the motorcycle maker, saying younger generations are not riding motorbikes in the same numbers as Baby Boomers had.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

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July 12, 2017 16:31 ET (20:31 GMT)