Shares of retailers and other consumer companies ticked up after positive economic data offset worries about the latest outbreaks of Covid-19.
Consumer confidence in the U.S. rose in January to 89.3 from 87.1 in December as expectations for the economy and the labor market improved, according to data from research group the Conference Board.
The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 9.5% in the year that ended in November, up from an 8.4% annual rate the prior month, and the highest annual rate of price growth since February 2014.
The U.S. unit of French beauty chain L'Occitane filed for bankruptcy, citing an inability to meet lease obligations, the latest U.S. chain to be undone by the impact of the pandemic.
GameStop shares continued to gain as small stock traders piled into bullish bets on the computer-game store chain, a reflection of the growing power of young day traders on the stock market. Options trading by retail investors has recently been concentrated in "a largely ignored corner of heavily shorted smaller cap stocks," said equity derivatives strategists at brokerage Barclays.
"In a span of a month, retail trading has significantly impacted price action and sentiment in these heavily shorted names, cementing the dominance of retail option investors."
Snack maker PepsiCo is entering a joint venture with meat substitute maker Beyond Meat to develop snacks and drinks made from plant-based protein, the companies said.
Great Canadian Gaming said that Rodney Baker resigned as its CEO Sunday, following a controversy related to Mr. Baker's vaccine acquisition.
LVMH Moët Hennessy Louis Vuitton said surging revenue at its biggest fashion brands, Louis Vuitton and Dior, propped up the luxury-goods company's results during the fourth quarter, offsetting results at other businesses such as Champagne, where growth has not held up.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-26-21 1725ET
