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.
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(END) Dow Jones Newswires