Shares of industrial and transportation companies ticked up as relief over inflation prospects outweighed worries about growth.
A slide in oil futures looks set to ease wholesale inflation pressures for manufacturers.
In another sign of potential inflation relief, improved delivery times and a gradual easing of freight rates in recent weeks have improved conditions in global supply chains, according to analysts at brokerage Morgan Stanley.
Germany's wholesale prices rose 19.5% in July but even that marked a moderation from prior months.
On the growth side, the Empire State Manufacturing Survey's general business conditions index tumbled to minus 31.3 from 11.1 in July, marking the second-largest monthly decline in the index on record.
A federal judge criticized manufacturing giant 3M's attempt to use the protections of chapter 11 to resolve mass injury claims by U.S. military veterans, but left the question of protection from litigation in a bankruptcy court's hands.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
08-15-22 1700ET
