Shares of industrial and transportation companies rose as shares of economically sensitive companies gained.
A manufacturing sector survey showed signs that supply-chain problems could be improving. The Institute for Supply Management said its index of manufacturing activity slipped to 58.7 in December from 61.1 in November. Anything over 50 represents an expansion in activity, so factories were still very busy last month. Economists had expected to see activity recede more slowly, though.
Meanwhile, more than 1,000 flights were canceled as airlines continue to face disruptions from recent inclement weather and Covid-19-driven staff shortages. Still, a number of travel stocks advanced. Royal Caribbean shares rose 2.1%, United Airlines shares gained 1.7% and Marriott International shares added 2.8%.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
01-04-22 1707ET
