Shares of industrial and transportation companies rose in volatile trading as interest-rate fears subsided.
Shares of Boeing rose after the aerospace giant posted stronger-than-anticipated aircraft deliveries, even as it lagged rival Airbus in the passenger-jet category.
As China sticks to a "zero Covid" policy, production and port activity is slowing, and workers are in short supply as officials impose city lockdowns and mass testing on a scale unseen in nearly two years, drawing warnings from multinational concerns such as Adidas and Volkswagen.
Freight companies are likely to report strong fourth-quarter growth, according to one brokerage. "Tight supply chains and a strong macro drove strong topline conditions at the transports, though relative to the third quarter, a tougher comparison and higher inflation played a little spoilsport," said strategists at brokerage Morgan Stanley, in a note to clients.
General Motors is launching a new website called CarBravo that will help U.S.-based GM dealers market and sell used cars online, competing directly with Carvana Co. and other retailers that have embraced virtual sales in the last couple of years.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-11-22 1634ET
