Shares of industrial and transportation companies were nearly flat amid cautious optimism that a fresh round of stimulus spending and continued support from the Federal Reserve will support economic recovery.
House Democrats are preparing to stitch together a legislative version of President Biden's $1.9 trillion coronavirus relief proposal this week.
General Electric expects cash flow to be negative in the first quarter, typically the slowest period of the year, but the conglomerate isn't changing its outlook for 2021.
Speaking at an investor conference Tuesday, Chief Executive Officer Larry Culp said the first-quarter performance would still be better than a year ago when the company burned through $2.2 billion in cash for the period. He played down the first-quarter results so far, saying they were "nothing more than what we see typically at the start of a new year."
Meanwhile, Rockwell Automation said it named Nicholas Gangestad senior vice president and chief financial officer, effective March 1. Mr. Gangestad most recently served as chief financial officer of 3M, which buys automation products and services from Rockwell.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
02-16-21 1717ET
