United Parcel Service ( NYSE: UPS ) and Union Pacific ( NYSE: UNP ) this week posted the biggest gains among big-cap industrial stocks during a choppy week of trading.
The Industrial Select Sector SPDR ETF ( NYSEARCA: XLI ), whose holdings include the largest companies in the manufacturing sector, posted its second straight week of gains with a 1.7% advance.
Commentary by the Federal Reserve about declining inflation helped to stoke a mid-week rally, but a report Friday showing unemployment hit a 53-year low in January pressured U.S. stock markets. The jobs numbers indicated the economy may be regaining momentum, possibly giving the Fed a reason to keep raising interest rates to dampen growth and reduce inflation.
Economic bellwether UPS ( UPS ) rose 5.3% for the week to touch a six-month high. The shipping company this week beat earnings estimates , raised its dividend and approved a new $5 billion stock-buyback program.
Among declining stocks, Caterpillar ( NYSE: CAT ) slumped 6.3% to partly reverse a rally that last week had pushed its stock to a record high.
The maker of heavy machinery and construction equipment came into the week with high expectations for earnings. Its Q4 profit missed estimates on foreign-currency moves, but its 20% annual growth in sales and revenue was better than expected.
Company (Ticker) | 5-day change |
Boeing ( BA ) | -0.9% |
Caterpillar ( CAT ) | -6.3% |
Deere ( DE ) | -3.0% |
General Electric ( GE ) | -0.3% |
Honeywell International ( HON ) | -2.6% |
Industrial Select Sector SPDR ETF ( XLI ) | 1.7% |
Lockheed Martin ( LMT ) | -0.1% |
Northrop Grumman ( NOC ) | 0.7% |
Raytheon Technologies ( RTX ) | -3.1% |
Union Pacific ( UNP ) | 3.9% |
United Parcel Service ( UPS ) | 5.3% |
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UPS, Union Pacific lead gains in big-cap industrials