Industrials Up On Tax-Bill Talk -- Industrials Roundup

FeaturesDow Jones Newswires

Shares of manufacturing and transportation companies rose amid optimism about the outlook for tax reform and interest rates.

The Trump administration and top congressional officials intend to release a more detailed tax plan in the next few weeks, Treasury Secretary Steven Mnuchin said in an interview with The Wall Street Journal on Thursday.

Continue Reading Below

In a good sign for the freight shipping industry, which was brought to it knees during the commodities bust, Cosco Shipping, the world's third-biggest container operator, said it swung to a $283 million profit in the first half of the year, helped by higher freight rates and demand. Cosco, which recently closed a $6.3 billion takeover of Hong Kong rival Orient Overseas Container Lines, is looking to spend at least another $1 billion on acquisitions, as reported earlier.

-Rob Curran,

(END) Dow Jones Newswires

August 31, 2017 16:36 ET (20:36 GMT)