Consumer companies rose sharply amid optimism about inflation data and interest rates.

Consumer-price inflation picked up to 3.4% in December, after a rapid cooling through most of 2023.

There are fears that shipping disruptions in two of the major chokepoints of global trade -- the Panama and Suez canals -- could result in another bout of increases for consumer prices.

In another sign that the U.S. economy is heating up, weekly jobless claims fell by 1,000 to 202,000 for the week ended Jan. 6.

KB Home beat expectations for fourth-quarter earnings, though revenue and profit were both lower than the year-earlier period. The home builder sees signs of demand picking up.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-11-24 1809ET