Industrials Up as Fears of Commodities Bust Recede -- Industrials Roundup

Shares of manufacturing and transportation companies rose slightly as fears of a second wave in the global commodities bust receded. Economic data was mixed, as weak regional manufacturing statistics were offset by strength in home-market data. The Empire State's general business conditions index showed a reading of -1 for May, below last month's 5.2 reading. Economists surveyed by The Wall Street Journal had expected the index to rise to 7 in May. Boeing is proposing St. Louis as the site for a factory that would assemble Air Force trainer jets in a contract worth around $16 billion that it's bidding for. Italian infrastructure group Atlantia said it has launched a cash-and-share offer for Abertis, in a transaction valuing the Spanish company at 16.3 billion euro ($17.8 billion) that could create the world's biggest toll-road operator. One money manager warned that the intrigue around Federal Bureau of Investigation Director James Comey abrupt dismissal. "Regardless of how events unfold, changing stories and communications confusion cast doubt on the discipline and political acumen of the White House," said Bob Doll, investment strategist at money manager Nuveen Investments. "From an investment perspective, last week's events are another reason to be skeptical of the president's capability to deliver on his major legislative goals, especially regarding a significant overhaul of the tax code."

-Rob Curran,

(END) Dow Jones Newswires

May 15, 2017 16:16 ET (20:16 GMT)