Industrials Decline on Rate Implications of Jobs Data - Industrials Roundup
Shares of industrial and transportation companies fell as strong jobs data diminished chances of a bumper rate cut.
The U.S. economy added a higher-than-expected 143,000 new jobs in September, the first time in six months that growth accelerated, according to data from paycheck company ADP.
While there has been progress on the inflation front, price rises remain a concern, warned Richmond Federal Reserve President Thomas Barkin.
Shares of flying-car developer Joby Aviation rose after reports that Japanese car maker Toyota will invest an additional $500 million in the aerospace start-up to support the launch of its electric air taxi.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 02, 2024 17:11 ET (21:11 GMT)
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