The University of Michigan consumer-sentiment index climbed to 49.5 in its final June reading, a recovery from the record low of 44.8 recorded in May. This shift coincides with a retreat in oil prices, fueled by reports of a peace deal in Iran that could dampen multiyear highs for fuel costs.
In section Market Quotes
Retail Stocks Climb as Fuel Costs Ease
Falling oil futures are providing a rare tailwind for the consumer sector, as the prospect of cheaper gasoline helps stabilize sentiment after a period of historic pessimism. Investors are recalibrating their expectations for retail spending power while simultaneously weighing new regulatory scrutiny hitting major European e-commerce players.
Contrasting the broader sector optimism, Zalando shares faltered following an announcement from Germany’s financial regulator. The agency has launched an audit of the retailer’s financial statements, specifically questioning whether a transaction linked to the acquisition of About You was improperly omitted from previous filings.
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