Shares of manufacturing and transportation companies ticked down amid doubts about the outlook for economic stimulus in the U.S.
Analysts at brokerage Morgan Stanley expect a modest tax overhaul bill to ultimately arise from the push for legislation from Treasury Secretary Steven Mnuchin. "With data from historical tax cuts as our guide, we continue to expect a modest deficit expansion that delivers little near-term stimulus," said the Morgan Stanley analysts, in a note to clients. "Republicans' conceptual policy agreement on the issue, and desire to avoid squandering one-party control, likely supersede any lingering divisions and help the party continue its progress."
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General Electric shares rose after the conglomerate agreed to sell its industrial-solutions business, a maker of electric equipment for utilities, to Switzerland's ABB Ltd., a sign that GE's new chief is moving ahead with efforts to streamline the industrial giant.
Rob Curran, email@example.com
(END) Dow Jones Newswires
September 25, 2017 17:08 ET (21:08 GMT)