Industrials Decline On Tax-Plan Doubts - Industrials Roundup

Features Dow Jones Newswires

Shares of manufacturing and transportation companies ticked down amid uncertainty about the legislative viability of the Trump administration's tax plan. U.S. economic output grew at a 3.1% annual rate in the second quarter, slightly stronger than previously thought and marking the best growth in two years. Capital-expenditure trends captured in regional industrial reports have been on a consistent growth trajectory for many months, according to one brokerage. "We believe this is additional evidence that a cyclical, more durable pickup in equipment investment is underway," said analysts at brokerage Morgan Stanley, in a research note.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

September 28, 2017 16:29 ET (20:29 GMT)