Consumer Companies Lower on Harvey Fears -- Consumer Roundup

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

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.

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

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