Consumer Cos Up on Spending Outlook -- Consumer Roundup

Retailers and other consumer companies ticked up as traders hedged their bets on the outlook for consumer spending.

U.S. consumer spending will slow in the first half of 2023 when compared with 2022 amid increasing concerns over the state of the labor market, said Morgan Stanley economist Sarah Wolfe at an event organized by trade group the National Retail Federation.

Carvana stock rallied after the used-car retailer said it was adopting a poison pill to prevent hostile takeovers.

Peloton Interactive named former Twitter marketer Leslie Berland as its chief marketing officer.

Distiller Diageo agreed to buy Don Papa Rum, a high-end dark rum from the Philippines, in a deal worth up to about $473 million, as the liquor giant bids to move further upmarket.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

01-17-23 1700ET