Industrials Up on Peace Hopes - Industrials Roundup
Shares of industrial and transportation companies rose as traders bet the U.S. and Iran would avert a return to full-blown war.
One strategist said recent weakness in defense contractors is an indication of market expectations for a lull in U.S. military spending. "The market appears to be pricing in a 'peak defense' narrative, with concerns that defense spending growth could slow after the Iran conflict and that a potentially divided government following the midterm elections could make future budget increases more difficult," said Tony Bancroft, portfolio manager at Gabelli Funds, in a note to clients.
WD-40 shares rose after the maker of lubricating oil posted fiscal third-quarter earnings and revenue ahead of Wall Street targets.
German auto maker Volkswagen plans to cut its car lineup by up to half and reduce production capacity in its second major overhaul in under two years. Rival BMW said a sharp drop in sales in China dragged down its overall performance in the first half of the year.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
July 10, 2026 17:35 ET (21:35 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Growth Stocks to Buy While They’re Still Undervalued
3 of the Best Core Stocks to Own
3 Great New ETFs From 2026
Retirees: 5 Reasons to Consider Index Funds and ETFs
United States