Consumer companies slid as a spike in oil prices threatened to bring on a new wave of inflation.
The upcoming February consumer-price inflation report should show muted price increases, but that could soon change, warned one brokerage. "February CPI should remain contained with headline & core rising by 0.3% month-over-month, which is unlikely to change the Fed's policy stance," said economists at brokerage Bank of America Global Research.
"While inflation remains contained, the conflict in Iran poses an upside risk to our inflation outlook," the brokerage added.
The U.S. Global JETS exchange-traded fund, a basket of airlines, fell about 4.5% Thursday, and is now about 8% lower for the year to date. Airlines count fuel costs as one of their major overheads. The war in the Middle East has shut down many lucrative long-haul routes, and attacks ranging from Turkey to Sri Lanka are likely deterring new bookings.
Shares of cruise-lines such as Norwegian and Carnival were also down sharply. Victoria's Secret shares plunged after the lingerie chain warned of incremental tariff costs in 2026.
Kroger shares rose after the grocery-store chain logged earnings ahead of Wall Street expectations.
BJ's Wholesale Club warned expenses are set to grow faster than revenue this year, as the subscription-based warehouse retail chain quickly expand its footprint with more stores.
Theme-park chain Six Flags Entertainment agreed to sell seven of its regional amusement parks to EPR Properties for total cash consideration of $331 million.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-05-26 1745ET
