Industrials Lower Ahead of Jobs Data -- Industrials Roundup

Features Dow Jones Newswires

Shares of manufacturing and transportation companies were slightly lower as traders awaited jobs data from the Labor Department later in the week.

Continue Reading Below

A survey of private employers conducted by Automatic Data Processing Inc. showed the country added 135,000 workers in September.

Shares of India's Tata Motors rose after the company received a $171 million order to supply 10,000 electric vehicles to the Indian government over the next three to four years. Electrical-vehicle makers and mainstream auto makers have seen strong demand for their shares in recent weeks as governments in China and elsewhere make commitments to electrical-car targets.

"The 100-year-old auto industry business model is facing unprecedented technological disruption," said analysts at brokerage Morgan Stanley, in a research note. "Auto [manufacturers] and suppliers face new competitors with advantages in software, consumer electronics and cost of capital -- and may struggle to attract and retain the best talent."

Still, chemicals processors with exposure to lithium batteries, tire makers such as Goodyear, and trucking lines with a focus on efficiency are among the old-line industries set to benefit from the shift.

Ford Motor said it will shift about $7 billion toward the development of more trucks and sport-utility vehicles, doubling down on a popular part of its business.

Continue Reading Below

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

October 04, 2017 17:35 ET (21:35 GMT)