US retailers rise as interest rate cut signals increased spending

Dominos Pizza Enterprises

19/09/2024 17:29

** Shares of U.S. retail companies rise after the U.S.
Federal Reserve cut interest rates by 50 bps
    ** Shares of retailers including Macy's  M.N , Bath & Body
Works  BBWI.N , Lowe's  LOW.N , Home Depot  HD.N  and Best Buy
 BBY.N  rise between 1%-3%
    ** Fed's rate cut comes at an opportune time for retailers,
several of which plan to launch their holiday promotions in just
a few weeks - Analyst Zak Stambor, eMarketer
    ** Apparel sellers such as Nike  NKE.N , American Eagle
 AEO.N  and Lululemon  LULU.O  also saw their shares rising
1.6%, 1.4% and 1.5%, respectively
    ** Luxury retailer's Ralph Lauren  RL.N , Estee Lauder
 EL.N  and Canada Goose  GOOS.TO  rise between 1% and 2%
    ** The S&P 500 Consumer Discretionary sector index  .SPLRCD 
was up 1.89% at 1,577.76

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))