Consumer Companies Lower on Strong Data -- Consumer Roundup

FeaturesDow Jones Newswires

Shares of retailers and other consumer companies fell, but not by as much as the broad market, after strong readings of consumer confidence and home-ownership rates.

The Conference Board said its measure of U.S. consumer confidence rose to 125.4 in January from 123.1 in December, while one subindex, reflecting perceptions of the jobs market, stood at its highest level since 2001.

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McDonald's shares declined as the fast-food chain said promotion of rock-bottom meal deals drove sales growth in the latest quarter, spurring fears about profit margins.

Volkswagen suspended a senior executive amid mounting outrage over reports this week that the car maker had conducted experiments on animals and humans in an effort to disprove links between diesel fumes and respiratory illnesses.

The U.S. homeownership rate hit 64.2% in the fourth quarter of 2017, up from 63.7% a year earlier, according to data released Tuesday by the Census Bureau.

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

January 30, 2018 16:42 ET (21:42 GMT)

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