Industrials Rise On Tax Bill Expectations - Industrials Roundup

Features Dow Jones Newswires

Shares of manufacturing and transportation companies rose as traders anticipated a lift from tax policy. "There's growing support for the notion that there can be some movement on tax plan before end of 2017," said Joe Kinahan, chief market strategist at TD Ameritrade. "The good part about it is you have the negotiation tool. They've come out and said 'here's our plan. It's much like if you're buying a house...you don't expect them to hit your first bid, but now you have a point to get started." Warren Buffett's Berkshire Hathaway agreed to buy nearly 40% of the operator of Pilot and Flying J travel centers, a chain of truckers' gasoline and travel-services centers. The family-owned Knoxville, Tenn.-based chain known as Pilot Flying J, has 750 locations in the U.S. and Canada and generates more than $20 billion in annual revenue.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

October 03, 2017 16:19 ET (20:19 GMT)