General Electric leads advance in industrial stocks as markets rally 2nd day

Oct. 04, 2022 12:18 PM ETThe Boeing Company (BA), CAT, DE, GE, HON, LMT, NOC, RTX, UNP, UPS, XLIBy: Rob Williams, SA NY5 Comments

Worker with metal cutting grinder

deimagine/E+ via Getty Images

General Electric (NYSE:GE) on Tuesday led gains among large-cap industrial stocks with a 5.4% gain by 12:14 p.m. ET, as U.S. equity markets rallied for a second day.

Worries that companies can’t find workers eased somewhat after the JOLTs report for August showed 10.053 million job openings, compared with the estimate for 10.755 million. A softer job market combined with lower inflation might give the Federal Reserve a reason to be less aggressive about rate hikes.

The Industrial Select Sector SPDR ETF (NYSEARCA:XLI), whose holdings include big-cap industrial stocks, gained about 3.1% by mid-day Tuesday. If the gain holds through the close, it will be biggest advance since July 19.

Industrial Select Sector SPDR Fund -Top Holdings
Company (Ticker) % change, 12:14 p.m. ET
Boeing (NYSE:BA) 5.2%
Caterpillar (NYSE:CAT) 4.3%
Deere & Co. (NYSE:DE) 3.2%
General Electric (GE) 5.4%
Honeywell International (NASDAQ:HON) 2.6%
Lockheed Martin (NYSE:LMT) 0.9%
Northrop Grumman (NYSE:NOC) 1.1%
Raytheon Technologies (NYSE:RTX) 3.1%
Union Pacific Corp. (NYSE:UNP) 2.7%
United Parcel Service (NYSE:UPS) 3.1%

Recommended For You

Comments (5)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.