Shares of industrial and transportation companies rose sharply as lukewarm economic data generated speculation that the Federal Reserve would soon slow hiking interest rates.
Orders for manufactured goods were flat in August, the Commerce Department said, the latest indication of weakness in the industrial sector after a tepid survey from the Institute for Supply Management a day earlier.
U.S. job openings fell to 10.1 million last month from 11.2 million previously in a sign the red-hot labor market may be cooling off.
"The broad-based decline in job openings across sectors in the U.S. shows a slight loosening in the labor market," said Jeffrey Roach, chief economist at brokerage LPL Financial, in a note to clients. "But overall, still tight."
Auto giant Ford Motor's U.S. sales in September fell about 9% from a year earlier, as a steep drop in truck sales offset growth in sales of electric vehicles.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
10-04-22 1651ET
