Shares of industrial and transportation companies fell after surprisingly strong inflation data.
The unexpected uptick in consumer-price inflation could put more pressure on the Federal Reserve to raise interest rates in the long term. In the short term, trading activity in Treasury markets suggested that the Fed will not raise rates at its September meeting.
United Parcel Service shares ticked up after finance chief Brian Newman said the company had a plan to recoup some of the higher costs associated with the new contract the package-delivery giant and union leaders have negotiated.
The United Auto Workers are planning "targeted" strikes if there is no breakthrough in wage negotiations with General Motors this week.
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(END) Dow Jones Newswires