Shares of industrial and transportation companies rose as strong jobs data offset another reported increase in wholesale inflation.
New applications for unemployment benefits fell to 473,000 last week from a revised 507,000 a week earlier, the Labor Department, the lowest point since mid-March 2020, when the pandemic shut down the economy and triggered widespread joblessness.
The producer-price index, a measure of the prices businesses receive for their goods and services, increased a seasonally adjusted 0.6% on the month.
In a sign of resurgent global trade, container volumes at the ports of Los Angeles and Long Beach continued to climb in April, as the ports estimated they handled 857,278 boxes of imports in the month, up 37% on year, but down 4.5% from March.
Boeing received approval from U.S. air-safety regulators for fixes to an electrical problem that has grounded more than 100 of its 737 MAX jets, the company and a Federal Aviation Administration official said.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-13-21 1706ET
