Shares of industrial and transportation companies rose sharply after muted wholesale inflation data.

"The market is finally digesting that we had to slow down the economy in order to quell inflation," said Eric Marshall, president of Dallas mutual-fund firm Hodges Capital. "Inflation looks like it's under control. We may see a more challenging employment market for the time being ... but that's not that unexpected."

Canadian National Railway has taken the first step in a phased shutdown of its rail network in Canada with a halt to the movement of hazardous cargo, based on what it says is a lack of movement in talks with unionized workers. The railroad plans to lock workers out beginning on Aug. 22 if a settlement cannot be reached.

A group that represents more than 200 of motor-cycle maker Harley-Davidson's U.S. dealers said the motorcycle maker has boosted its profit margins at their expense, threatening their viability.

Investment firm D Cubed Group is selling insulated-panel and walk-in freezer manufacturer KBPS Global to Germany's Viessmann Generations Group for more than six times the private-market investor's initial investment, The Wall Street Journal reported.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

08-13-24 1743ET