Industrials Gain Ahead of Jobs Data - Industrials Roundup
Shares of industrial and transportation companies ticked up ahead of jobs data, amid optimism about a "soft landing," despite a major longshoreman strike.
The Institute for Supply Management on Tuesday said its manufacturing PMI, a closely-watched measure of U.S. manufacturing activity, held steady at 47.2 in September.
Dockworkers at dozens of U.S. ports are digging in for a massive pay increase, seeking to flex their power in a strike that aims to strangle the flow of trade across much of the country. Ports from Maine to Texas were set to shut down, freezing up global supply chains.
Danish freight shipping line A.P. Moller-Maersk warned the U.S. dockworkers strike would have worldwide ripple effects, slowing cargo movement, increased costs, and logistical challenges for businesses relying on Atlantic and Gulf ports.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 01, 2024 17:32 ET (21:32 GMT)
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