Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Industrials Up As Reduced Election Fears Buoy Government Contractors -- Industrials Roundup

11/24/2020 | 04:30pm EST

Shares of industrial and transportation companies rose as reduced fears of a contested election boosted defense companies and other government contractors.

President-elect Joe Biden moved quickly to take advantage of government resources for his transition to the White House after the Trump administration ended a 16-day stalemate and announced its intention to begin cooperating with his team.

"A trifecta of good news for markets put investors in the holiday spirit, with multiple vaccines announced in the past 2 weeks, a market-friendly Treasury Secretary appointment and the removal of election uncertainty," said Chris Zaccarelli, Chief Investment Officer for financial-advice network the Independent Advisor Alliance, in e-mailed commentary.

General Electric shares rallied after analysts at brokerage Oppenheimer said the industrial conglomerate would benefit from a sustained rebound in the aviation industry.

Separately, GE warned employees that more job cuts would be necessary at the jet-engine unit as a vaccine would not come soon enough to stop the bleeding in the commercial-airline business.

Trucking volumes dropped 8.7% in October from the previous year on a seasonally-adjusted basis, the seventh straight year-over-year decline, the American Trucking Associations said.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

11-24-20 1629ET

Stocks mentioned in the article
ChangeLast1st jan.
GENERAL ELECTRIC COMPANY 0.36% 11.11 Delayed Quote.2.87%
OPPENHEIMER HOLDINGS INC. -0.15% 32.38 Delayed Quote.3.02%
Latest news "Economy & Forex"
05:43pUK govt quietly extends councils' lockdown powers until July 17 - Telegraph
RE
02:34pU.s. cdc says 2,437,670 doses of covid-19 vaccine administered in long-term care homes as of jan 23 vs 2,289,284 doses administered as of jan 22
RE
02:33pU.s. cdc says 17,390,345 individuals have received one or more doses of covid-19 vaccine as of jan. 23 vs 16,243,093 individuals as of as of jan. 22
RE
02:32pU.s. cdc says 3,027,865 individuals have received two doses of covid-19 vaccine as of jan. 23 vs 2,756,953 individuals as of jan. 22
RE
02:30pU.s. cdc says administered 20,537,990 doses of covid-19 vaccine as of jan 23 vs 19,107,959 doses administered as of jan 22
RE
02:29pU.s. cdc says distributed 41,411,550 doses of covid-19 vaccine as of jan 23 vs 39,892,400 doses distributed as of jan 22
RE
02:26pU.s. cdc reports total deaths of 412,592 due to coronavirus as of yesterday vs 408,697 in previous report on jan 22
RE
01:50pNOC NATIONAL OIL : National Oil Corporation announces the revenues of December 2020
PU
01:32pNOC NATIONAL OIL : National Oil Corporation signs a contract for Implementing 2 projects to construct water Assembly Tanks in Jado and Al-Rajaban
PU
11:34aItaly pm conte says rome will use all available legal tools to make sure contractual commitments are met - facebook
RE
Latest news "Economy & Forex"