Consumer Companies Lower on Harvey Fears -- Consumer Roundup

Features Dow Jones Newswires

Shares of retailers and other consumer-services companies ticked down as historic flooding shut businesses in Houston, the nation's fourth-largest city.

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Analysts agree Tropical Storm Harvey will have some economic impact, though brokerage Morgan Stanley said the depletion of productivity in the immediate aftermath of the storm could be offset by a surge of investment in rebuilding and restocking further down the line.

The Standard & Poor's CoreLogic Case-Shiller Indices, a measure of nationwide home prices, rose 5.8% in the 12 months ended in June, up slightly from a 5.7% year-over-year increase reported in May.

The Conference Board on Tuesday said its index of U.S. consumer confidence rose to 122.9 in August from a revised July figure of 120.

Shares of electronics store Best Buy fell sharply after it warned it would have to increase spending on its e-commerce operations to maintain sales growth in an increasingly competitive marketplace.

Nissan Motor and Renault struck a partnership deal with China's Dongfeng Motor Group to make electric cars in the world's biggest car market.

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Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

August 29, 2017 16:28 ET (20:28 GMT)