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Industrials Down as Rate, Inflation Concerns Weigh - Industrials Roundup

Dow Jones
2 hours ago

Shares of industrial and transportation companies fell as interest-rate and inflation concerns offset strong earnings.

The reading of a 3.7% rate of consumer inflation in September suggests businesses are passing on higher costs.

The Federal Reserve's beige book, based on surveys of businesses nationwide, reflected increased concerns about inflation.

Fastenal shares ticked up after the distributor of rivets, fasteners and associated tools posted quarterly earnings growth.

Shares of defense contractors such as RTX, Lockheed Martin and others rose as conflicts in Ukraine and Saudi Arabia were set to intensify.

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