Provided by Dow Jones Shares of industrial and transportation companies ticked up after mixed factory data. The Federal Reserve reported that industrial production rose 0.4% last month from May, though economists noted the gain largely due to a 2.7% increase in utility output, as the country cranked up the air conditioners in a month of record-breaking heat. Factories were running at 75.5% of capacity last month, belying accounts that producers were working flat out to meet the rebound in demand. Separately, manufacturing activity in the Philadelphia area lost some steam in July compared with the previous month, according to the Fed Bank of Philadelphia.
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