Shares of industrial and transportation companies rose amid hopes that tensions in the Middle East would subside.

Shares of economic bellwether FedEx slipped in late trading after the delivery giant's earnings lagged some investors' expectations.

Federal Reserve Chairman Jerome Powell said the central bank would remain on hold while monitoring the impact of tariffs on inflation, reiterating the central bank's longstanding position in congressional testimony Tuesday.

So far, few corporations have pointed to tariffs as a major factor in their growth trajectory, said one strategist. "We're not hearing a whole lot of 'we had to increase prices on this by 25%, and saw 10% demand destruction as a result of it...we haven't heard a lot of that," said Eric Marshall, president of Dallas mutual fund firm Hodges Capital.

The Morning Midas car carrier ship sank in the Pacific Ocean late Monday, weeks after a fire started on a deck that was carrying electric vehicles.

Federal investigators said that Boeing's flawed manufacturing processes and inadequate regulatory oversight were among the factors leading to a door plug flying off a Boeing 737 MAX plane last year.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

June 24, 2025 17:24 ET (21:24 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.