Shares of retailers and other consumer companies rose amid signs that wage inflation was picking up.
Walmart Stores, the largest private employer in the world with 2.3 million employees, said it would raise starting pay by $1 to $11 per hour for all its U.S. employees and hand out one-time bonuses. With consumer confidence high, an increase in wages around the U.S. would likely lead to higher discretionary spending, a net positive for Walmart and other consumer-services companies.
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Delta Air Lines said rising revenue and lower corporate taxes would boost earnings this year.
Auto makers missed a U.S. target on tailpipe emissions for the first time, an added wrinkle as the Trump administration weighs rolling back auto emissions regulations.
--Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
January 11, 2018 16:22 ET (21:22 GMT)