Industrials Down on Rate Fears — Industrials Roundup

Shares of industrial and transportation companies fell amid rate concerns.

Boeing's quality issues have prompted a growing chorus of former employees to come forward with concerns about the jet maker's manufacturing process, a sign that whoever succeeds Chief Executive Dave Calhoun will have to consider radical reform.

In one bad sign for freight demand, J.B. Hunt Transport Services recorded $100 million in costs during the first quarter that were associated with excess capacity.

A historic effort by the United Auto Workers to unionize more than a dozen factories outside of Detroit faces its first test this week, as workers at Volkswagen's lone U.S. plant cast ballots.

Prologis, the world's largest industrial property company, logged better-than-expected revenue in the latest quarter but warned of a slowdown in warehousing markets in the coming quarters as customers focus on tamping down logistics costs.

The U.S. economy grew slightly faster in the early spring and businesses added more workers, a Federal Reserve survey found, but there was little progress in lowering inflation.

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

(END) Dow Jones Newswires

April 17, 2024 17:49 ET (21:49 GMT)

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