Industrials Ascend Amid Growth Optimism - Industrials Roundup
04/26/2021 | 05:00pm EDT
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Shares of industrial and transportation companies rose amid optimism about global economic growth.
New orders for durable goods increased 0.5% to a seasonally adjusted $256.3 billion in March when compared with February, the Commerce Department said, indicating that factories gradually geared up after a February freeze.
The winter weather's disruption of the semiconductor supply chain continues to hamper auto production for Ford Motor and others, whose vehicles count computer chips as increasingly important components.
Shares of electronics and health-care equipment manufacturer Koninklijke Philips fell after it logged a smaller-than-anticipated increase in first-quarter net profit, hurt by a charge related to issues with sleep-support and respiratory-care equipment.