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Industrials Up As Traders Bet Jobs Data Will Keep Fed On Hold -- Industrials Roundup

05/07/2021 | 05:16pm EDT

Shares of industrial and transportation companies rose as traders bet that lukewarm jobs data would dissuade the Federal Reserve from changing its loose monetary policy stance.

About 266,000 workers were added to nonfarm payrolls in April, far shy of economists' estimates of roughly one million additions. The data followed a moderation in the Institute for Supply Management's gauge of factory activity. "Activity has waned in April following the stimulus-fueled boom in March," said economists at brokerage Bank of America Securities. "The Fed will continue to sit tight."

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

(END) Dow Jones Newswires

05-07-21 1716ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.85% 0.755 Delayed Quote.-0.12%
BANK OF AMERICA CORPORATION -4.37% 39.8 Delayed Quote.37.31%
BRITISH POUND / US DOLLAR (GBP/USD) -0.46% 1.3926 Delayed Quote.2.96%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.60% 0.8088 Delayed Quote.4.46%
DJ INDUSTRIAL -0.62% 33823.45 Delayed Quote.12.07%
EURO / US DOLLAR (EUR/USD) -0.75% 1.19086 Delayed Quote.-1.79%
INDIAN RUPEE / US DOLLAR (INR/USD) -1.19% 0.013486 Delayed Quote.-0.43%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.98% 0.70032 Delayed Quote.-0.82%
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