The Dow Jones Industrial Average inched up to another record high on a mixed day of trading for Wall Street. The Dow eked out a gain of 9 points, or less than 0.1%. The S&P 500 rose 0.2%, and the Nasdaq composite rose 0.2%. The parent company of the Paramount movie studio fell more than 7% after Edgar Bronfman Jr., the former head of Warner Music Group, abandoned his bid for the company, clearing the way for it to be acquired by the media company Skydance.
The parent company of the Paramount movie studio slid 6.6% after Edgar Bronfman Jr., the former head of Warner Music Group, abandoned his bid for the company, clearing the way for it to be acquired by the media company Skydance. Consumer spending accounts for nearly 70% of U.S. economic activity. That has been a strong area of the economy, along with the jobs market.
Hain Celestial Group jumped 17.2% after the company's fiscal fourth-quarter profit topped Wall Street's estimates. Trip.com Group climbed 8.8% after its second-quarter earnings beat analysts' forecasts and the company touted strong travel demand.
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