Shares of retailers and other consumer companies ticked down as traders hedged their bets on the outlook for holiday spending in bricks-and-mortar locations.
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Early indications suggest that store traffic has increased this year, but stiff competition from Amazon.com and other online retailers remains a concern for most conventional retailers. Economic data tracking consumers was promising. Consumer spending rose in November and the savings rate hit its lowest level since the financial crisis, indicating that Americans are opening up their wallets again. New home sales rose at the most marked pace in about a decade, increasing 17.5% in November from the previous month to a seasonally adjusted annual rate of 733,000, the Commerce Department said.
-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
December 22, 2017 16:54 ET (21:54 GMT)