Industrials Decline as Traders Hedge on Economic Prospects - Industrials Roundup

BECN

Shares of industrial and transportation companies ticked down as traders hedged their bets on the outlook for economic growth.

Tesla shares surged after reports that President Donald Trump would push for a regulatory framework enabling use of autonomous vehicles.

The European Central Bank is weighing the impact of higher U.S. tariffs on eurozone inflation, and appears likely to continue with a series of rate cuts that began in June and has picked up pace.

QXO, a new player in building-products distribution, has made an offer to acquire Beacon Roofing Supply. Beacon has a market value of about $6.2 billion, with its share price up around 14% so far this year.

U.S. President-elect Donald Trump has said he wants to raise tariffs on imports from a wide range of countries, although the details are unclear.

The eurozone's trade surplus climbed in September on year, with exports to the U.S. growing amid the looming threat of tariffs.

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

(END) Dow Jones Newswires

11-18-24 1711ET