Shares of industrial and transportation companies rose after strong factory data.
Industrial production expanded 0.6% in July, lifted by increased oil-and-gas drilling and auto production activity.
The overall output of the U.S. industrial sector reached an all-time high, eclipsing the level hit in 2018. One brokerage said strength in economic data is unlikely to last.
"The growth outlook is going to remain challenging to navigate," said strategists at brokerage BNP Paribas, in a note to clients.
"The recent China data and Monday's Empire Manufacturing prints are timely reminders that we are expecting a considerable growth slowdown in the coming months."
American Airlines Group agreed to buy 20 planes from Boom Supersonic, betting on the future of an ultra-fast plane still in development.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
08-16-22 1648ET
