Industrialists up as interest rate fears fade – Industrialists roundup
Shares of industrial and transportation companies rose in volatile trading as interest rate fears eased.
Boeing shares rose after the aerospace giant reported larger-than-expected aircraft deliveries, even though it lagged rival Airbus in the airliner category.
As China sticks to a ‘zero Covid’ policy, production and port activity are slowing, and workers are scarce as authorities impose city lockdowns and mass testing on a scale not seen since nearly two years, prompting warnings from multinationals such as Adidas and Volkswagen.
Freight companies are expected to see strong growth in the fourth quarter, according to a brokerage. “Tight supply chains and a strong macro generated good selling conditions in transportation, although compared to the third quarter, a tougher comparison and higher inflation played a bit of a spoilsport,” they said. said strategists at brokerage firm Morgan Stanley, in a note to clients.
General Motors is launching a new website called CarBravo that will help US-based GM dealerships market and sell used cars online, directly competing with Carvana Co. and other retailers that have embraced virtual sales over the past two years.
Write to Rob Curran at [email protected]
(END) Dow Jones Newswire