- Consumer companies rallied as fears about rising borrowing rates on spending patterns subsided
- Lululemon Athletica shares rallied after being added to the S&P 500 index
- Lululemon’s above-average sales growth may have a positive impact on S&P 500 earnings
- Coca-Cola and Pernod Ricard are launching a readymade cocktail with Absolut vodka and Sprite
Consumer companies saw a boost in their stock prices as concerns about the impact of rising borrowing rates on consumer spending eased. Lululemon Athletica, a popular yogawear chain, experienced a rally in its shares after being included in the prestigious S&P 500 index. This move is expected to have a modest positive effect on the overall earnings of the S&P 500. In other news, Coca-Cola and Pernod Ricard announced their plans to launch a new readymade cocktail featuring Absolut vodka and Sprite. This product is set to hit the market early next year.
