Shares of manufacturing and transportation companies rose as traders interpreted a rebound in consumer inflation as a good sign for economic growth.
Analysts at brokerage Morgan Stanley recommended clients buy into the industrial sector, given its cyclical qualities and the outlook for the U.S. economy. "Economic growth, business investment, Mergers & Acquisitions, foreign-exchange, and potentially policy action could benefit the sector," said the Morgan Stanley analysts in a note to clients.
Investors are skeptical that industrial conglomerate United Technologies deal to acquire aerospace technology maker Rockwell Collins will pass muster with antitrust authorities, with arbitrage trading assigning the deal a roughly 70% chance of closing under current terms.
Rob Curran, email@example.com
(END) Dow Jones Newswires
September 14, 2017 17:22 ET (21:22 GMT)