Shares of industrial and transportation companies rose amid deal activity and optimism about the reopening of the U.S. government.
Parker-Hannifin has agreed to buy Filtration Group for $9.25 billion, adding a major filtration-technologies manufacturer to its industrial portfolio.
Strategists at one brokerage said a "bifurcation" in the U.S. industrial economy evident in the earnings season is likely to continue.
"Data center strength remains bifurcated from an otherwise sluggish industrial economy," said strategists at brokerage Morgan Stanley. In the first half of 2026, this bifurcation may continue "between those tied to fixed investment...and those driven by consumer spend."
The GOP-led House was set to approve a spending package late Wednesday that reopens the government after a record-length shutdown, with the measure expected to overcome last-minute bipartisan complaints about a provision offering potentially lucrative payouts to some Republican senators.
Japanese auto giant Toyota, a longtime hybrid car and truck promoter, is making one of the industry's biggest bets on green transportation and opening a $14 billion battery plant in North Carolina.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-12-25 1808ET
