Shares of industrial and transportation companies fell amid concerns about economic activity.
Industrial production rose in June for the second month in row, driven by rising car sales and high demand for air-conditioning during a summer that has seen especially hot weather.
A regional survey of economic activity showed business leaders in most Fed bank districts perceive slowing economic activity, however.
Discount airline Spirit Airlines lowered revenue estimates for its second quarter, saying it faced more competition, and as a mismatch between domestic capacity and demand continues to plague U.S. airlines.
In a bad sign for economic activity, trucking line J.B. Hunt Transportation Services posted a decrease in second-quarter earnings, dragged down by dwindling freight revenue and volumes, higher insurance and equipment costs.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-17-24 1657ET
