Shares of retailers and other consumer-services companies rose after strong jobs data boded well for consumer spending.
A tally of private hiring by Automatic Data Processing and Moody’s Analytics showed that 237,000 new workers would be added to the books in August — significantly stronger than economists had anticipated.
The selloff in tobacco stocks after “FDA Friday,” when the Food and Drug Administration said it was exploring requirements to reduce nicotine content in cigarettes may be overdone, especially for relatively fast-growing companies such as British American Tobacco, said analysts at brokerage Morgan Stanley, in a research note.
Rob Curran, email@example.com
(END) Dow Jones Newswires
August 30, 2017 17:03 ET (21:03 GMT)