Shares of manufacturing and transportation companies rose as traders bet economic growth will accelerate in the second quarter.
Fears that U.S. economic activity would be disrupted by the fall of a president are likely overblown, said analysts at one brokerage. "Trump-Russia affair dominates headlines, but impeachment remains very unlikely," said analysts at brokerage Nomura Securities, in a note to clients. "Despite the recent cacophony of revelations around investigations into Russia's involvement in the U.S. election, we think the odds of President Trump being impeached or removed from office remains very low."
Continue Reading Below
United Technologies hasn't yet committed to developing an engine for Boeing's planned twin-aisle jet, but an executive estimated it would take at least five years and $1.5 billion to develop.
Honeywell International will decide whether to break off its aerospace division by the fall, responding to pressure from activist investor Third Point.
Rob Curran, email@example.com
(END) Dow Jones Newswires
May 23, 2017 17:02 ET (21:02 GMT)