Shares of industrial and transportation companies rose slightly after strong earnings from one bellwether offset weakness in another.
General Electric fell slightly after the industrial conglomerate said strong demand for its jet engines and power equipment in the fourth quarter boosted fourth-quarter revenue and earnings.
3M shares tumbled after the maker of a variety of industrial supplies unveiled plans to cut 2,500 manufacturing workers globally in response to weakening consumer demand and unpredictable conditions overseas.
Ford Motor entered talks with Chinese electric-vehicle maker BYD over the sale of a manufacturing plant in Germany, in a move that would be the first major overseas expansion for BYD.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-24-23 1727ET
