Shares of industrial and transportation companies fell ahead of jobs data after a strong run for cyclical sector.

The Energy Department said it is planning to provide up to $12 billion in funding for automakers to retrofit existing manufacturing facilities in the U.S. for the production of electric and hybrid vehicles.

Trucking line Yellow's major lenders, including the federal government and investment firm Citadel, look likely to be repaid the $1.2 billion, but unsecured creditors may be left holding the bag, The Wall Street Journal reported.

Indian conglomerate Adani Group rejected reports from the Organized Crime and Corruption Reporting Project that said the billionaire family secretly invested hundreds of millions of dollars into India's stock market to buy its own shares.

Titan Machinery shares rose after the maker of construction machinery posted second-quarter earnings ahead of Wall Street targets.


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

(END) Dow Jones Newswires

08-31-23 1715ET