Shares of industrial and transportation companies edged higher in subdued trading as traders hedge their bets on the economic recovery.
As Western economies roar back to life, a fresh wave of Covid-19 clusters in Asia - where vaccination campaigns remain in their early stages - is creating new bottlenecks in the global supply chain, threatening to push up prices and weigh on the post-pandemic recovery.
An outbreak at one of the world's busiest ports in southern China has led to global shipping delays, while infections at key points in the semiconductor supply chain in Taiwan and Malaysia are worsening a global chip shortage that has hindered production in the auto and technology industries.
Meanwhile, a faster-than-expected recovery in domestic air travel is helping Boeing find new homes for unclaimed 737 MAX jets whose buyers walked away or collapsed during the pandemic. Some airlines are buying the orphaned jets amid a vaccine-fueled travel rebound in the U.S. and other parts of the world. The purchases have left the Chicago-based plane maker with around 10 stored MAX aircraft needing buyers, people familiar with the matter said. Last July, it counted around 100.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
06-11-21 1645ET
