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Consumer Cos Up On Stimulus Hopes -- Consumer Roundup

11/05/2020 | 05:24pm EST

Shares of retailers and other consumer companies rose as the Federal Reserve indicated there could be more rounds of monetary and fiscal stimulus on the way.

Weekly initial claims for jobless benefits fell by 7,000 to a seasonally adjusted 751,000 in the week ended Oct. 31, the lowest level since mid-March but nevertheless extremely elevated on a long-term chart, according to the latest tally from the Labor Department.

Hanesbrands shares fell sharply as the underwear brand forecast growth short of estimates.

In what was seen as a bet on a revival in car travel, investment firm Apollo Global Management led a $4 billion financing of Hertz Global Holdings, aimed at refurbishing its aging vehicle fleet as domestic rental-car demand rebounds.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

11-05-20 1723ET

Stocks mentioned in the article
ChangeLast1st jan.
APOLLO GLOBAL MANAGEMENT, INC. -0.54% 47.95 Delayed Quote.-2.10%
HANESBRANDS INC. -0.51% 15.72 Delayed Quote.7.82%
HERTZ GLOBAL HOLDINGS, INC. 0.00%End-of-day quote.0.00%
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