Shares of industrial and transportation companies rose amid deal activity.
Manufacturer Wesco International agreed to buy network-and-security products maker Anixter International for $3.38 billion, or roughly $100 a share, after buyout firm Clayton Dubilier & Rice dropped out of a bidding contest.
Aerospace suppliers Woodward and Hexcel divulged plans for an all-stock merger in what executives said was a response to climate-change pressures on the industry, as "flight shaming" generates concerns about fuel efficiency. Both companies are also major suppliers of Boeing, making parts for its troubled 737 MAX jet.
In the latest evidence that a trade ceasefire may not be enough to save the Chinese economy from a "hard landing," Ford Motor warned it expects weak sales in the largest global car market next year. Ford's China sales fell for the third year in a row in 2019, adding up to less than half of what it sold at the peak of the market in 2016, a situation that it warned is likely to get worse in 2020.
Greg Kelly, the man his fellow former Nissan Motor executive Carlos Ghosn left behind to face charges of financial crimes alone, said his own case will suffer without his one-time boss, in an interview with The Wall Street Journal.
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