Industrials Up as Trump Budget Comments Buoy Defense Contractors -- Industrials Roundup

Shares of industrial and transportation companies rose after President Donald Trump's call for increased defense spending buoyed weapons makers.

Lockheed Martin and RTX rose sharply after Trump called for an increase in the defense budget to $1.5 trillion in 2027, a $500 billion increase.

Shares of German munitions maker Rheinmetall and British defense contractor BAE Systems rose.

A Caterpillar executive speaking at the Consumer Electronics Show said the machinery maker was making its construction industry machines autonomous, with help from AI leader Nvidia.

Inventories at merchant wholesalers increased 0.2% on month, after jumping by 0.5% in September, according to Commerce Department figures published Thursday.

China auto giant Geely is planning an expansion to the U.S., with a move possible in the next 24 to 36 months.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

01-08-26 1836ET