Shares of industrial and transportation companies rose amid earnings strength.
Illinois Tool Works rose after the maker of fasteners, auto parts and other industrial supplies posted quarterly revenue growth.
Shares of Hubbell rose after the maker of electrical and utility infrastructure equipment said the data-center boom was spurring demand for its hardware. Rival Emerson Electric rose ahead of its earnings.
Similarly, shares of aluminum-can maker Ball surged after it said it was able to pass on aluminum cost increases to customers.
Investors are rotating into old economy sectors such as industrials after years of tech leadership, strategists say.
"We recommend investors position for a broadening rally...beyond the tech sector," said Ulrike Hoffmann-Burchardi, chief investment officer, Americas and global head of equities at money manager UBS Global Wealth Management.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
02-03-26 1746ET
