Shares of industrial and transportation companies fell amid weak U.S. economic data.
Industrial production fell 0.2% in May, the second decline in three months, and the latest indication that the U.S. economy is faltering. The average spot rate to ship a 40-foot container from Asia to the U.S. West Coast slipped at the start of this week to $5,840, down from an average of about $6,000 the prior week, according to online booking platform Freightos.
Jabil shares rallied after the supplier of electronic parts handily beat earnings expectations, lifted its fiscal-year forecast, and unveiled new U.S. manufacturing investments.
Swedish truck maker Volvo and German peer Daimler Truck have launched a new joint venture that will develop a software-based manufacturing platform to build digitized commercial vehicles.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-17-25 1751ET
