Shares of industrial and transportation companies rose after strong economic data.

The flash U.S. manufacturing purchasing managers index rose to a 17-month high of 51.5 this month, aided by the strongest increase in new orders in more than a year and a half. New weekly jobless claims fell by 12,000 from 213,000 in the prior week, the government said.

J.B. Hunt Transport Services plans to buy retail giant Walmart's intermodal container and chassis fleets as part of a new multiyear shipping deal with the retailer.

Shares of German auto-parts maker Knorr-Bremse rallied after it reported earnings ahead of Wall Street targets. Mercedes Benz raised its dividend despite posting a decline for fourth-quarter sales and net profit, and forecast lower earnings this year on geopolitical and macroeconomic uncertainty.

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(END) Dow Jones Newswires

02-22-24 1753ET