Consumer Cos Up as Lennar Report Lifts Builders -- Consumer Roundup
June 26 2018 - 4:52PM
Dow Jones News
Shares of retailers and other consumer companies rose after a
strong home-sales report was followed by robust home-builder
earnings report. Lennar, the nation's largest home-builder by
sales, said strong demand for new homes and higher selling prices
drove earnings growth in the most recent quarter. That came a
session after a report that new-home sales rose last month,
quelling concerns rising mortgage rates and home prices would weigh
on demand. Harley Davidson shares were more or less flat after
President Donald Trump slammed the motorcycle maker's disclosure
that it would move production to Europe to avoid tariffs. American
Campus Communities struck a deal with Walt Disney to build and own
a $615 million housing development outside Orlando, Fla., using the
college-housing model to accommodate trainees in Disney programs.
An increase in concerns about the economic outlook weighed on the
Conference Board's index of consumer confidence, dragging it down
to 126.4 in June from 128.8 a month earlier.
-Rob Curran, rob.curran@dowjones.com
(END) Dow Jones Newswires
June 26, 2018 16:37 ET (20:37 GMT)
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