Shares of industrial and transportation companies slid after commentary from the Federal Reserve and earnings from the largest U.S. jet maker.

The Fed warned that economic weakness persisted, even as conditions looked set to improve in the second half of the year.

New orders for durable goods -- products designed to last at least three years -- increased 0.2% to a seasonally adjusted $245.3 billion in December compared with November, the Commerce Department reported.

Shares of Boeing fell sharply after the aerospace giant said the new 777X, its largest passenger jet, would be at least three years late for airline customers, the latest setback after the prolonged grounding of the 737 MAX. Boeing's annual loss reflected the punishment from the pandemic's impact on air travel.

The Biden administration has imposed a temporary freeze on U.S. arms sales to Saudi Arabia and the United Arab Emirates as it reviews billions of dollars in weapons transactions approved by former President Donald Trump, according to U.S. officials. 


 Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-27-21 1729ET