Top Consumer Stocks
Consumer shares are down in mid-day trading while retail stocks slip after weak spending data was released this morning.
In consumer sector ETFs, the SPDR S&P Retail ( XRT ) is down 2.15% to $49.25.
In mid-day consumer news, retail shares are lower following data released this morning that showed consumer spending rose a modest 0.1% in October, whereas personal income rose even faster, up 0.4%, to mark the biggest increase since March as Americans set aside more savings.
The data comes head of Black Friday - the all-important holiday shopping season. Among big retail issues:
Meanwhile, Diamond Foods ( DMND ) shares are off sharply as the company is the subject of several law firms filing class action lawsuits on behalf of stockholders related to the company's now-delayed purchase of Pringles.
One law firm, Hagens Berman, is detailing reports yesterday that Joseph P. Silveira, a member of the board of directors of Diamond Foods, had committed suicide. The firm said that Silveira had recused himself from Diamond's own investigation into walnut payments because he managed walnut properties, according to Hagens Berman.
DMND shares are down 16.4%.
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