Shares of retailers and other consumer companies rose as investors bet a Federal Reserve bond-buying program would benefit companies struggling to meet debt obligations, many of whom are in the bricks-and-mortar retail and restaurant business.
Consumer-focused investment firm Capitol Peak Partners and KKR won a bankruptcy auction for Borden Dairy, the milk producer known for its Elsie the cow trademark, The Wall Street Journal reported.
"With over 20 states seeing increases with new cases, expectations are growing that lockdown measures will return or intensify as many of these outbreaks are not under control," said Edward Moya, senior market analyst at foreign-exchange brokerage OANDA.
Write to Rob Curran at rob.curran@dowjones.com
