Industrials Up On Covid-19 Treatment Hopes -- Industrials Roundup
|07/10/2020 | 05:25pm|
Shares of industrial and transportation companies rose amid optimism about Covid-19 treatments.
Shares of Boeing rose even after reports that American Airlines was considering cancelling orders for 17 737 MAX jets due to difficulty obtaining financing.
President Donald Trump said that he is no longer thinking about negotiating a phase-two trade deal with China, saying the relationship between the countries has been badly damaged by the coronavirus pandemic.
Investors are waiting for the regional manufacturing report due next week to see if a rebound in May carried through into June.
"We finally crossed on national level surveys the 50 mark in which we move into expansion," said Quincy Krosby, chief market strategist at Prudential Financial.
With reports due from the New York and Philadelphia Federal Reserve territories areas next week, investors are "looking to see if new orders continue to climb," Ms Krosby said.
Write to Rob Curran at firstname.lastname@example.org