Shares of industrial and transportation companies rose amid optimism on the prospects of growth, inflation and Federal Reserve policy.
"The Fed appears to be able and on track to engineer a soft landing," said Oliver Pursche, senior vice president at financial advisory Wealthspire. "Inflation data has come down, but the labor market has remained strong. We're going to get obviously more data (Thursday), but they certainly have not caused an economic crash."
Mr. Pursche said corporations are likely to top pessimistic growth expectations in fourth-quarter earnings season.
European planemaker Airbus said it delivered more aircraft in 2022 than in the previous year despite withdrawing its full-year target in early December.
Swiss special chemicals maker Sika said 2022 sales rose 13% to a record high, helped by strong demand in the Americas.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-11-23 1735ET
