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.
-Rob Curran, email@example.com
Continue Reading Below
(END) Dow Jones Newswires
September 28, 2017 16:29 ET (20:29 GMT)