Consumer companies surged amid tariffs relief.
Fears that the upward spiral on border duties for electronics, clothes and toys imported from China caused a rapid decline in consumer confidence earlier this year.
The 90-day cease-fire in the trade war could cause a revival in confidence and economic activity, said one strategist.
"Perhaps the market was pricing in a doomsday worst-case secnerio," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "On a relative asis this looks really good."
The SPDR Select Sector Consumer Discretionary exchange-traded fund, which tracks the consumer-discretionary industry group of the S&P 500, Deal activity buoyed the consumer-products niche.
Church & Dwight struck a deal to buy the Touchland hand-sanitizer brand for up to $880 million. French food processor Danone agreed to buy a majority stake in Kate Farms, a California-based producer of plant-based nutritional formulas.
Investment firm TSG agreed to buy budget gym chain EoS from rival firm BRS & Co.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
May 12, 2025 17:20 ET (21:20 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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