Kroger Leads Consumer Stocks on Sale Talks, Rest of Market Edges Higher
Consumer stocks drove Wall Street to small gains, though any stronger moves would have to wait until investors get clarity from the Fed this afternoon. At these levels, the Dow will end at a record, while the S&P 500 and Nasdaq are a toss-up.
Kroger Co. (KR) - Get Report was one of the largest gainers in the consumer space on the announcement it was considering unloading its convenience store business. Goldman Sachs is advising the process.
Colgate-Palmolive Co. (CL) - Get Report also boosted the consumer sector after SunTrust Robinson Humphrey upped its rating to buy from hold and boosted its price target by $20 to $85. The firm sees Colgate recovering from recent weakness in its fourth quarter.
The number of job openings held near record highs in August, according to the latest Job Openings and Labor Turnover Survey. Openings rose to their highest level in seventeen years in July.
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