Shares of industrial and transportation companies rose sharply amid hopes that the U.S. would avert a recession.
The U.S. Federal Aviation Administration is recommending that airlines check a second type of Boeing jet that uses the same kind of door plug as the one that blew out of an Alaska Airlines flight earlier this month. "It seems like water torture lately, with Boeing ... more bad news drips along," said J.D. Joyce, president of financial advisory Joyce Wealth Management.
Forward Air plans to move ahead with its acquisition of freight forwarder Omni Logistics with the significantly reduced price tag of $20 million, ending a drawn-out saga over the combination.
The leading indicators of the U.S. economy fell in December for the 21st month in a row, but a widely predicted recession still appears no closer than when the long losing streak first began.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-22-24 1743ET
