Industrials Down on Rate Concerns -- Industrials Roundup

Dow Jones05:16

Shares of industrial and transportation companies fell as a surprisingly strong jobs tally for May spurred rate-hike expectations.

U.S. employers added 172,000 workers in May, far beyond economists' expectations. Fed funds futures markets priced in a high likelihood of a rate hike in December.

Transportation companies were a rare bright spot as fears of a rate hike caused a flight from cyclical sectors, as railroads, freight-trucking firms and airlines gained due to the retreat in energy futures.

SpaceX's revenue could reach $3.4 trillion in 2040, according to a Morgan Stanley analysis shared with top investors Thursday.

 

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

(END) Dow Jones Newswires

June 05, 2026 17:16 ET (21:16 GMT)

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