US stocks slide as household goods makers take losses

NEW YORK (AP) — U.S. stock indexes are mostly lower Tuesday and consumer goods makers are taking the biggest losses.

While spending by consumers jumped last month by the largest amount in six years, a survey showed Americans are still worried about the job market and don't expect much improvement.

The Commerce Department said that U.S. consumer spending rose 1 percent in April, led by a big jump in purchases of autos and other durable goods.

The group said consumers are feeling cautious about business and job market conditions, and they anticipate little change in the months ahead.

Companies that make household goods like food, drinks, cleaners and other everyday items fell in afternoon trading.

Erik Davidson, chief investment officer for Wells Fargo Private Bank, said the consumer spending report shows Americans are gradually spending more and getting over the shocks of the financial crisis and Great Recession.

Boeing slumped after the U.S. Air Force announced new delays for the company's KC-46 Pegasus Tanker, a midair refueling plane.

Drugmakers Biogen and AbbVie rose after the Food and Drug Administration approved Zinbryta, a once-a-month injection intended to treat multiple sclerosis.

Jazz gest most of its revenue from Xyrem, a drug used to treat side effects of narcolepsy, but it also makes cancer drugs.

Earlier in Asia, Japan's benchmark Nikkei 225 closed 1 percent higher, while South Korea's Kospi added 0.8 percent.

Natural gas jumped 13 cents, or 6 percent, to $2.30 per 1,000 cubic feet.