Consumer Shares Gain as Consumer Discretionary Stocks Surge -- Consumer Roundup

Shares of retailers and other consumer companies rose as consumer discretionary stocks led gainers.

Americans will spend a record amount on costumes, decorations and other Halloween items this year, according to the National Retail Federation. Total spending is expected to hit $10.6 billion, an increase of 5%, or $500 million, over last year, the National Retail Federation estimates. That's up $2 billion, or 20%, over the $8.8 billion spent on Halloween in 2019 -- the last trick-or-treat before the Covid-19 pandemic.

An Australian regulator hit one of the country's main casino operators with a record fine, as authorities increase scrutiny of an industry that has faced questions over how it attracts international high-rollers, particularly from China.

Star Entertainment Group, which runs a large casino in Sydney, was fined A$100 million by the New South Wales Independent Casino Commission.

 Write to Amy Pessetto at [e-mail] 

(END) Dow Jones Newswires

10-17-22 1749ET