Consumer companies rose amid hopes that Iran and Israel would soon de-escalate their conflict.
The U.S. Global Jets exchange-traded fund, a basket of major airlines, rose by more than 3% as oil futures fell. "It seems illogical that the equity markets would be up today," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "It makes one question the reason for bullishness. Oil being down suggests an assumption of the conflict being contained, not being likely to broaden. I don't know that to be a logical assumption."
Texas home-decor chain At Home Group filed for Chapter 11 bankruptcy, eliminating substantially all of its nearly $2 billion in funded debt and has obtained about $200 million of capital to support operations.
François-Henri Pinault, the billionaire heir who spent two decades transforming Kering into a luxury powerhouse, is stepping back as chief executive officer, hoping Renault Chief Executive Luca de Meo can pull its brands such as Gucci and Saint Laurent out of a slump.
Activist investor Barington Capital Group has built a stake in Victoria's Secret and believes the lingerie retailer hasn't lived up to its full potential.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-16-25 1737ET
