Consumer Cos Gain on Mortgage Rate Hopes - Consumer Roundup

Consumer companies rose amid hopes that mortgage rates may have peaked as Treasury yields fell in the wake of the jobs report.

U.S. employers added 175,000 workers to payrolls in April, far shy of the 240,000 predicted by economists.

The weak jobs data seemed to vindicate Federal Reserve Chairman Jerome Powell's confidence that last year's rate hikes had succeeded in taming an overheating economy.

The surprisingly tepid jobs report "was a big sigh of relief for markets, with a softer job market and importantly a softer average hourly earnings readout," said Matt Peron, Global Head of Solutions at Janus Henderson Investors.

"Taken together, this should give markets some hope that inflation is not as sticky as feared and raises the possibility of getting back on the disinflation trend we saw last year," said Peron.

Shares of Jean Paul Gaultier owner Puig Brands jumped above their listing price on their trading debut in Spain after the world's biggest initial public offering so far this year.

Shares of chocalatier Hershey rallied after it posted first-quarter profit growth above expectations.

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