Industrials Up on Economic Optimism -- Industrials Roundup
September 11 2017 - 04:40PM
Dow Jones News
Shares of manufacturing and transportation companies rose as a
less-severe-than anticipated hit from Hurricane Irma spurred
economic optimism. While economically damaging "fiscal cliff"
brinkmanship was averted last week when President Donald Trump
struck a deal with Democratic lawmakers, legislators could yet
engage in the tactic in the near future, according to one money
manager.
"The upshot is a likely fiscal cliff toward year-end as
lawmakers again confront the debt limit and government funding --
without the face-saving element of disaster relief," said Richard
Turnill, global chief investment strategist for money manager
BlackRock, in a note to clients. Another brokerage made a slightly
different political calculation.
"At this stage, we remain constructive that the political
reality of going into midterm elections having failed to deliver on
primary campaign promises around health-care reform will galvanize
Republicans to deliver some form of tax cuts," said analysts at
brokerage Morgan Stanley in a research note.
-Rob Curran, rob.curran@dowjones.com
(END) Dow Jones Newswires
September 11, 2017 16:25 ET (20:25 GMT)
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