Shares of industrial and transportation companies rose amid optimism about third-quarter earnings. Among companies reporting earnings later this week, shares of Caterpillar rose slightly.
"Corporate earnings have been decent so far when it comes to third quarter results. But we think expectations for next year are too high, which means earnings could be vulnerable to disappointments," said Bob Doll, chief U.S. equity strategist at money manager Nuveen Investments, in a note to clients.
Boeing shares fell for the third straight session, logging the worst three-day stretch since August 2011 as the company was hit with analyst downgrades and growing scrutiny in Washington DC about its safety practices and grounded 737 MAX planes. Investigators for the House Transportation and Infrastructure Committee have details about a three-year-old Boeing survey showing that employees felt "potential undue pressure" from managers about regulators' safety-related approvals, The Wall Street Journal reported Sunday.
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