Shares of manufacturing and transportation companies declined as traders hedged their bets on the outlook for tax legislation. "The House passed their version of tax reform which was met with muted market response," said analysts at brokerage Bank of America Merrill Lynch Global Research, in a note to clients. "Meanwhile in the Senate, repeal of the individual insurance mandate and sunset of individual tax cuts were added to their tax plan, potentially creating complications for passage." General Electric received a contract to supply engines for the Marines' new CH-53K helicopter being built by a Lockheed Martin unit.
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(END) Dow Jones Newswires
November 17, 2017 16:21 ET (21:21 GMT)