Shares of industrial and transportation companies ticked up amid deal activity.
Japanese industrial giant Toshiba said it received a proposal for acquisition from leveraged-buyout firm CVC Capital Partners, in a deal that could be valued at more than $20 billion if completed.
Auto giant General Motors will halt production at several North American factories and extend shutdowns at some others because of a protracted shortage of semiconductor chips that is disrupting the auto industry's hopes for a bounceback this year.
Strategists at brokerage Piper Sandler said the Federal Reserve's minutes reinforced the impression of a central bank that is comfortable with the growth and inflation outlook under its current loose monetary policy. "The main takeaways were that 1) rising inflation from pent-up demand and supply constraints will likely be transitory, 2) economic uncertainty remains high and dependent on the path of the virus, and 3) policy changes are unlikely for 'some time' and will be telegraphed 'well in advance' of any adjustments," said the Piper Sandler strategists, in a note to clients.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-08-21 1641ET
