Shares of manufacturing and transportation companies rose as Wall Street strategists said the economic expansion looked set to continue. While the current economic expansion is one of the longest on record, the average pace of growth is among the weakest, said Scott Clemons, chief investment strategist for private bank Brown Brothers Harriman, in a note to clients. "Despite rumblings in the financial press that the economy is posed on the brink of a downturn, a quick glance at a few leading indicators of economic conditions shows that a recession is not likely imminent," said Clemons. Similarly, Richard Turnill, chief investment strategist for money manager BlackRock Global, said comparisons of the current cycle with previous economic cycles "found it has room to run," confounding fears "that it is ready to die of old age."
-Rob Curran, firstname.lastname@example.org
Continue Reading Below
(END) Dow Jones Newswires
July 10, 2017 16:25 ET (20:25 GMT)