Shares of industrial and transportation companies rose ahead of earnings reports.
Traders have rotated into value sectors such as industrials, which trade at lower multiples of earnings and out of high-priced growth sectors like technology as Treasury yields have risen in January.
Economic data was weak: U.S. industrial production fell for the first time since September. Manufacturing output, a key component of the reading, dropped 0.3% as supply-chain issues continue to affect output.
Among other major industrial nations, Germany's statistics agency said its economy likely shrank by between 0.5% and 1% quarter-on-quarter in the September to December quarter.
A senior Boeing engineer, Michael Teal, who oversaw the design of the 737 MAX is retiring from the plane maker after 35 years.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-14-22 1641ET
