Shares of industrial and transportation companies rose slightly as traders hedged their bets on the outlook for earnings.
Xylem shares fell after the water-technology company agreed to buy Evoqua Water Technologies for roughly $7.5 billion in stock.
General Electric rose ahead of its earnings report Tuesday, the last preceding the conglomerate's division into smaller companies. One brokerage said earnings optimism looks unrealistic.
"Despite better than feared corporate commentary around earnings over the last several quarters, actual earnings-per-share growth is declining," said analysts at brokerage Morgan Stanley, in a note to clients.
Union workers at two plants for CNH Industrial ratified a new contract with the farm and construction equipment maker, ending a strike that began in early May.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-23-23 1726ET
