Consumer companies rose amid mixed economic data. New weekly jobless claims fell by 2,000 to 227,000 in the latest tally.
Used-home sales fell for the second straight month in April, falling 0.5% from the prior month to a seasonally adjusted annual rate of 4 million, the slowest sales pace for any April since 2009, the National Association of Realtors said.
Analysts said the stubbornly high home prices, elevated mortgage rates and economic uncertainty all weighed.
"The supply of listings as a multiple of sales was the highest for April since 2016, although the absolute level of listings was still below pre-pandemic levels," said Bill Adams, chief economist for Comerica Bank.
The S&P Global Flash U.S. Composite PMI, which gauges activity in the manufacturing and services sectors, rose to 52.1 in May from the 19-month low of 50.6 in April.
Fashion house Ralph Lauren said its customers were still spending on luxury goods despite the rocky economic backdrop, and that it would raise prices more than previously planned in order to offset tariffs.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
May 22, 2025 18:42 ET (22:42 GMT)
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