Consumer Companies Up On Spending Views -- Consumer Roundup

Shares of retailers and other consumer-services companies rose after strong jobs data boded well for discretionary spending.

Employers across the country added 253,000 workers to their ranks in May, according to payroll processor Automatic Data Processing and forecasting firm Moody's Analytics.

Separately, initial jobless claims, a proxy for layoffs across the U.S., increased by 13,000 to a seasonally adjusted 248,000 in the week ended May 27, the Labor Department said. While the new weekly claims rose to a five-week high, the rolling average remained consistent with the expanding jobs market portrayed in the ADP report.

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

(END) Dow Jones Newswires

June 01, 2017 16:27 ET (20:27 GMT)