Shares of industrial and transportation companies declined on the outlook for interest rates.

The "Beige Book" survey of Federal Reserve districts' impressions of economic conditions featured generally positive feedbacks from local businesses.

The Atlanta Fed's GDPNow tracker now estimates that gross domestic product will pick up to a 5.6% annual rate in the third quarter, up from a 2.1% rate in the April-June quarter, which has provoked concerns about another wave of inflation.

Siemens and Alstom are among the multinational industrial giants lobbying lawmakers and the Biden administration for contracts supply high-speed power cars and passenger coaches for the trains of Brightline West, a privately owned venture that aims to connect the Los Angeles exurbs with Las Vegas.

Investors are bracing for a round of strikes in Detroit's Big Three automakers.

President Joe Biden praised a deal between unionized dockworkers and their employers that prevented a strike at West Coast ports, hinting that he favors compromise from the United Auto Workers union, which could strike when its contract ends Sept. 14.

Toyota Motor will make its flagship six-figure model the Century available outside of Japan for the first time.


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

(END) Dow Jones Newswires

09-06-23 1716ET