Kroger Jumps on Sales Strength; Consumer Sentiment Hits Yearly Low

Kroger (KR) shares moved higher in midday trading Friday after a strong quarterly performance at its chain of supermarkets. The company reported a more-than-5% increase in identical supermarket sales in its second quarter and forecast at least 4% growth for the full year. Stocks remained in the red by the middle of the session, reversing modest gains enjoyed a day earlier. However, benchmark indexes were on track to post a weekly increase with the S&P 500 up more than 1% over the holiday-shortened week. Consumer sentiment in September fell to its lowest level since this time last year. Confidence was shaken by signs the global economy is worsening and after weeks of extreme volatility on stock markets.