Industrials Up As Traders Hedge On Inflation View — Industrials Roundup

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Shares of industrial and transportation companies rose as traders hedged their bets on the outlook for inflation.

In the Federal Reserve Bank of New York’s August Survey of Consumer Expectations, the bank said respondents expect inflation a year from now to increase to 5.2%, up from 4.9% the prior month, a record high. Consistently high readings of inflation are casting doubt on Fed arguments that price increases are likely a “transitory” result of the reawakening of the global economy after Covid-19 lockdowns.

In another sign that inflation may linger, the chief executive of manufacturing conglomerate 3M said inflation showed no signs of abating in the third quarter, prompting 3M to push through additional price increases.

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

(END) Dow Jones Newswires

September 13, 2021 16:55 ET (20:55 GMT)

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