Industrials Down After Weak NY Factory Data -- Industrials Roundup

Shares of industrial and transportation companies fell after a dire reading of factory activity in the New York region.

The Empire State Manufacturing Survey's general business conditions index decreased to minus 32.9 in January from minus 11.2 in December, its lowest reading since the dawn of the Covid-19 pandemic in spring 2020.

The ZEW economic research institute's index of economic expectations for Germany rose to 16.9 in January from minus 23.3 in December, its fourth consecutive monthly increase, as fears about an energy crunch eased because of mild weather.

German tire maker Continental cut its adjusted free cash flow expectations for 2022, citing more customer payment delays.

Appliance maker Whirlpool said it was divesting it would divest businesses across Europe, the Middle East, and Africa, and take a minority share of a partnership with a Turkish rival to address the European market.

BlackRock Chairman and Chief Executive Larry Fink said he was more worried about "anemic" economic growth prospects over the next five-to-seven years than inflation, as reported earlier.

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(END) Dow Jones Newswires

01-17-23 1658ET