Consumer companies rose sharply as oil futures tumbled.
The consumer-led economic recovery could be threatened by the spike in oil futures if it lasts much longer, said one strategist.
"The even wider question is more than just, 'How much does it take to fill up a tank of gas,'" said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "What does this do to all these other products? Anything plastic; or anything food-related, because of fertilizer; anything shipped (which is almost everything). All of a sudden, you start to put this together, and this is much more inflationary than first thought."
The spike in oil prices is already taking a toll on shoppers' mood in Europe. The European Commission's flash consumer-confidence indicator for the eurozone stood at minus 16.3, its lowest point since October 2023, compared with minus 12.3 in February.
European food-processing firm Danone agreed to buy nutrition startup Huel for about $1.2 billion, seeking to tap growing demand for meal-replacement shakes popular with gym-goers and late-night workers.
Estée Lauder entered talks to acquire Spanish beauty group Puig Brands, a deal that would combine two of the world's biggest beauty companies.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
March 23, 2026 17:06 ET (21:06 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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