Industrials Up as Rate Nerves Ease -- Industrials Roundup

Shares of industrial and transportation companies rose as nerves about the outlook for inflation and interest rates eased.

The SPDR Select Sector industrials exchange-traded fund, which tracks the industrial sector of the S&P 500, is trading within a percentage point of record highs at the start of August, sloughing off the interest rate concerns that weighed on cyclical stocks for much of the month.

Vietnamese electric-car maker VinFast Auto lost $90 billion in market capitalization in the latest unpredictable swing for a stock that's been historically volatile since its initial-public offering earlier this month.

U.S. gross-domestic product growth estimates were revised lower to a 2.1% annual pace in the second quarter from initial 2.4%.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

08-30-23 1704ET