Shares of industrial and transportation companies rose after surprisingly strong jobs data.
The U.S. economy added 130,000 jobs in January, its strongest growth in over a year, spurring hopes that the labor market may be shaking off its recent stagnation.
BorgWarner shares rallied after the maker of auto parts and other industrial goods disclosed a deal to supply a data-center developer with generator systems. The deal, expected to generate as much as $300 million in 2027 when the system goes into production, offset weakness in BorgWarner's sales outlook.
Several other major industrial companies have leaned on demand for machinery from data center developers recently, including Caterpillar and Carrier Global. Shares of both of those economically-sensitive companies rallied on Wednesday.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
02-11-26 1731ET
