Shares of industrial and transportation companies rose after Federal Reserve Chairman Jerome Powell downplayed the possibility of a rate hike this year.
The U.S. economy "accelerated to a moderate pace" from February to early April, as rising rates of Covid-19 vaccinations, business reopenings and federal-stimulus funds boosted consumer spending across the country, according to the Federal Reserve's monthly "Beige book" regional survey.
Japanese industrial conglomerate Toshiba's chief executive Nobuaki Kurumatani resigned Wednesday under pressure from shareholders, a week after the company said it had received an acquisition offer from private-equity firm CVC Capital Partners, where Mr. Kurumatani had previously worked.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-14-21 1624ET
