Industrials Up as Chinese Protest Fears Ease — Industrials Roundup
Shares of industrial and transportation companies rose as fears about Chinese protests eased. Chinese authorities indicated they would discourage unnecessarily strict Covid 19 lockdowns, in an apparent concession to protesters. The latest disruptions are unlikely to affect holiday season imports to the U.S., which have already shipped, said Eric Marshall, president of Dallas mutual-fund firm Hodges Capital. Wall Street strategists say cyclical sectors of the stock market have seen divergent fortunes recently. “There are areas of the economy that have already been in recession,” said Mr. Marshall. “The industrial side of the economy is benefiting from macro trends in infrastructure investment and reshoring of manufacturing back to North America.” House Speaker Nancy Pelosi (D., Calif.) said lawmakers would take up legislation on Wednesday to stop a nationwide strike by railroad workers. Write to Rob Curran at rob.curran@dowjones.com
