Shares of industrial and transportation companies fell as investors digested new comments from Federal Reserve officials.
Fed Chairwoman Lael Brainard on Monday said recent inflation data offered some signs of reassurance that price pressures were no longer broadening and that the central bank could soon slow the pace of interest-rate rises.
That followed comments over the weekend from Fed governor Christopher Waller, who said policy makers still had "a ways to go" and would like to see more data points before easing off the brake.
In corporate news, Cindy Sanborn, the first woman to serve as chief operating officer of a major U.S. freight railroad, will step down from her post at Norfolk Southern, effective Jan. 1. One of Europe's biggest arms makers said it would buy a Spanish competitor in a bid to quickly expand production of artillery and mortar ammunition to meet what it said was "massive demand" amid the war in Ukraine. Germany's Rheinmetall said Monday it agreed to buy Spain's Expal Systems for 1.2 billion euros, equivalent to about $1.24 billion.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
11-14-22 1657ET
