Shares of industrial and transportation companies rose after China's central bank announced a blitz of measures to support a weakening economy and energize the stock market. Caterpillar, Cummins and Otis were among the best performing companies on expectations of increased demand.
Smiths Group shares tumbled after the engineering group results missed market expectations for fiscal 2024, leading analysts to expect downgrades in consensus estimates for fiscal 2025.
Write to Patrick Sullivan at patrick.sullivan@wsj.com
(END) Dow Jones Newswires
09-24-24 1749ET