The drop in gasoline prices offered a counterweight to rate concerns in trading across the consumer sector. The companies’ shares were described as more or less flat.
Consumer Stocks Hold Steady as Oil Prices Fall
Consumer companies were little changed as traders balanced concerns over rising interest rates against lower energy costs. Oil futures ended near $86 a barrel, and the average U.S. gasoline price fell below the closely watched $4-a-gallon mark.
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