Industrials Down After PPI Data, GE Selloff - Industrials Roundup

Features Dow Jones Newswires

Shares of manufacturing and transportation companies ticked down after a spike in wholesale inflation and another selloff for General Electric. The U.S. producer-price index, a measure of inflation experienced by businesses, increased 2.8% in October from a year earlier, the largest year-over-year increase in more than five years, according to a report released by the Labor Department. General Electric declined as investors pored over the company's new strategic plan and a hefty charge related to the reinsurance of long-term care insurance. The weakness meant that Boeing, whose shares are up about 68% so far this year, had a market value of $155.5 billion, becoming the largest U.S. industrial company by market cap and surpassing GE in this metric for the first time ever.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

November 14, 2017 16:12 ET (21:12 GMT)