Shares of industrial and transportation companies have witnessed a decline in anticipation of the upcoming jobs data. This decline comes after a strong performance by the cyclical sector.
Energy Department Plans $12 Billion Funding for Automakers
In an effort to promote the production of electric and hybrid vehicles in the United States, the Energy Department has announced its plan to allocate up to $12 billion in funding. This funding aims to support automakers in retrofitting their existing manufacturing facilities.
Yellow Trucking Line's Major Lenders Expected to Be Repaid
Yellow Trucking Line's major lenders, including the federal government and investment firm Citadel, appear likely to be repaid the $1.2 billion owed to them. However, unsecured creditors may face difficulties in recovering their shares, according to The Wall Street Journal.
Adani Group Dismisses Secret Investment Allegations
Indian conglomerate Adani Group has vehemently denied allegations made by the Organized Crime and Corruption Reporting Project. The reports claimed that the billionaire family had covertly invested hundreds of millions of dollars in India's stock market to purchase their own shares.
Titan Machinery Surpasses Wall Street Expectations
Shares of Titan Machinery experienced an upturn following the second-quarter earnings report. The manufacturer of construction machinery posted earnings that surpassed the targets set by Wall Street analysts.