Industrials Decline as Traders Tweak Rate Expectations - Industrials Roundup
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Dow Jones
Shares of industrial and transportation companies fell as traders recalibrated rate expectations.
Investors digested stronger-than-anticipated jobs data from Friday, and positioned themselves for fewer rate cuts this year by selling Treasury bonds and economically cyclical stocks.
Barnes Group shares rose after the aerospace concern agreed to be acquired and taken private by investment firm for $3.6 billion in cash.
In a bad sign for global economic activity, German factory orders fell 5.8% in August, according to data published by statistics agency Destatis.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 07, 2024 17:11 ET (21:11 GMT)
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