Shares of industrial and transportation companies rallied as traders weighed the implications of a surprisingly strong earnings season.
BorgWarner shares rose after the auto-parts maker logged robust earnings growth.
"Generally speaking the U.S. economy continues to perform well; the unemployment rate continues to be low; consumer spending is reasonably robust; and corporate earnings are strong," said Oliver Pursche, senior vice president at financial advisory Wealthspire.
Shares of specialty glass maker Corning soared after chip maker Nvidia agreed to make a $500 million investment in the company, as part of a deal to expand production of the fiber-optic materials desperately needed to build AI infrastructure.
Corning is set to boost U.S.-based optical connectivity manufacturing capacity by 10 times.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-06-26 1738ET
