Shares of industrial and transportation companies rallied after strong earnings from one cornerstone of the sector.
Shares of Caterpillar rose by more than 8% after the maker of mining and construction equipment posted a surprisingly sharp increase in quarterly revenue, as dealers stocked up on inventory.
Orders at U.S. factories for long-lasting goods designed to last three years or more such as refrigerators and cars rose 0.4% in September, the Commerce Department reported.
Boeing shares rebounded a session after a major selloff in the wake of a weak earnings report.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
10-27-22 1706ET
