Shares of industrial and transportation companies fell amid concerns about the implications of an energy shock for profits and Federal Reserve policy.
Fed Chairman Jerome Powell acknowledged there was "vigorous debate" over the decision to retain an easing bias, hinting that a rate cut could be off the table for the foreseeable future. After the Fed decision, odds of a rate hike in 2026 increased in futures markets.
Durable goods orders rose 0.8% in March, a stronger expansion than economists had anticipated for factory goods intended to last three years or more.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-29-26 1739ET
