2023-07-14 19:41:57 ET
Automatic Data Processing ( NASDAQ: ADP ) this week rose 4.9% for the biggest decline among big-cap industrial stocks. The Industrial Select Sector SPDR ETF ( NYSEARCA: XLI ), whose holdings include some of the largest U.S. companies in the sector, rose 2.3% for the week.
The gains came as markets worldwide got a lift from data showing that the pace of inflation had slowed. Lower inflation would give the Federal Reserve a major reason to pause its aggressive interest-rate hikes.
The Standard & Poor’s 500 stock index ( SP500 ) on Friday traded around the highest close since April 2022. The Dow Industrials Average ( DJI ) rose 2.3% and the Nasdaq Composite ( COMP.IND ) gained 3.3% -- the best week since March.
Company (Ticker) | Weekly change, July 14 |
Automatic Data Processing ( ADP ) | 4.9% |
Boeing ( NYSE: BA ) | 0.5% |
Caterpillar ( NYSE: CAT ) | 4.3% |
Deere ( NYSE: DE ) | 2.3% |
General Electric ( NYSE: GE ) | 1.9% |
Honeywell International ( NASDAQ: HON ) | 1.4% |
Industrial Select Sector SPDR ETF ( XLI ) | 2.3% |
Lockheed Martin ( NYSE: LMT ) | 1.2% |
Raytheon Technologies ( NYSE: RTX ) | -1.3% |
Union Pacific ( NYSE: UNP ) | 4.0% |
United Parcel Service ( NYSE: UPS ) | 3.1% |
More about industrials
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- Wells Fargo highlights Nasdaq 100 rebalance trade opportunities
- SpaceX is more valuable than Boeing, Raytheon: Barron’s
- Owens Corning, TopBuild EPS estimates raised at BofA
- U.S. tractor sales rose in June from year earlier, led by bigger machines
- 3M upgraded to Neutral by analysts at Bank of America
- Cintas’s Q4 revenue rises 10% to beat estimates
- SEE, Weyerhaeuser, Sylvamo upgraded to Buy at BofA
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Automatic Data Processing leads weekly gains among big-cap industrials