Industrials Advance as Investors Digest Economic Data Points – Industrials Roundup

Shares of industrial and transportation companies rose as investors scrutinized data and commentary on the labor market and inflation.

Investors are still trying to balance positive signs from Friday’s jobs report with recent more cautious economic comments from executives such as Tesla’s Elon Musk and JPMorgan’s Jamie Dimon.

JetBlue Airways said it has sweetened its bid for Spirit Airlines as JetBlue’s efforts to wrest the carrier from its planned merger with Frontier Group enters the home stretch. JetBlue on Monday increased the amount of severance fees it would pay Spirit if antitrust regulators block the deal to $350 million, or about $3.20 per Spirit share, from the $200 million it previously had offered.

Meanwhile, the Supreme Court has ruled unanimously that airline baggage handlers cannot be forced to resolve labor disputes through individual private arbitration, contrary to the trend of recent rulings allowing employers to easier to avoid class action lawsuits brought by workers.

 Write to Amy Pessetto at [email protected] 

(END) Dow Jones Newswire

June 06, 2022 5:28 p.m. ET (21:28 GMT)

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