Industrials Down After Philadelphia Factory Data -- Industrials Roundup

Shares of industrial and transportation companies fell after another weak reading of regional factory activity.

The Philadelphia Federal Reserve said its gauge of regional business activity rose slightly to negative 8.9 in January from negative 13.7 in the prior month, the fifth straight contraction in activity.

Federal Reserve Vice Chair Lael Brainard said the recent decline in inflation was an important development that could raise questions over the extent to which the Fed needs to cool off the labor market to bring down inflation.

Trucking line J.B. Hunt Transport Services raised its quarterly cash dividend to 42 cents per share, a 5% increase from the prior dividend of 40 cents.

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(END) Dow Jones Newswires

01-19-23 1655ET