Shares of retailers and other consumer-services companies rose after strong earnings and economic data. Kellogg shares rallied after the cereal maker posted surprisingly pronounced operating profit growth, as overseas demand and a new merchandising strategy offset the long-term effects of shifting dietary tastes in the U.S. Kellogg rival Mondolez International rose after reporting rising demand for its snacks, manufactured under brands such as Cadbury. The Conference Board said its index of U.S. consumer confidence increased to 125.9 in October from a revised 120.6 in September. This eclipses the March level of 124.9 and marks the highest level for the confidence gauge since December 2000, when it was 128.6. The S&P CoreLogic Case-Shiller National Home Price Index rose 6.1% in the 12 months ended in August, another sign that tight inventories and hype are creating another housing boom. The SPDR S&P Homebuilder exchange-traded fund, a basket of builders, gained Tuesday and is trading at its highest level since 2006. Under Armour shares slid after the maker of athletic wear reported its first ever quarterly sales decline and warned that more sales weakness is likely in the near term.
-Rob Curran, email@example.com
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(END) Dow Jones Newswires
October 31, 2017 16:26 ET (20:26 GMT)