Consumer Cos Up After Strong Consumer Spending Data - Consumer Roundup

Consumer companies rose after surprisingly strong spending growth.

Consumer spending rose 0.6% in August, exceeding economists' expectations. The PCE index, the Federal Reserve's preferred inflation gauge, rose 0.3% in August, data that is likely to reassure top officials at the Fed that inflation is still relatively well contained despite tariff impacts.

"We believe the FOMC meeting and recent Fed communications show a shift in the Fed's reaction function, putting more weight on downside risks to the labor market and a lower emphasis on still-elevated inflation," said economists at brokerage BNP Paribas.

Consumer confidence waned in September, according to the latest survey from the University of Michigan.

Activist investor Land & Buildings Investment Management is pressuring Six Flags Entertainment to spin out or sell its real estate in an effort to revive the theme-park operator's languishing share price.

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