Industries up after strong March jobs report – Industry roundup

Shares of industrial and transportation companies rose after the Labor Department reported U.S. employers added 431,000 workers to payroll.

“The consensus was looking for a blowout report and that’s what we got,” economists at brokerage Bank of America Global Research said in a note to clients. “The unemployment rate has fallen for good reasons, as the demand for strong labor continues to outpace the growth in supply, even though the latter has accelerated over the past two months… It is very unusual to get this kind of momentum in the labor market when the economy is already at full employment.”

Russian Foreign Minister Sergey Lavrov said the Kremlin appreciates India’s stance on invading Ukraine and is ready to cooperate on trade, the latest overture to New Delhi, one of rare major powers to maintain a neutral stance on Ukraine.

French conglomerate Bolloré has agreed to sell its transportation and logistics assets in Africa to private container ship operator MSC Group for an enterprise value of around $6.31 billion.

National Highway Traffic Safety Administration regulators have raised fuel economy standards for passenger cars and light trucks to 49 miles per gallon starting with the 2026 model year, a 10% increase in efficiency energy efficiency of the entire fleet on average compared to the 2021 model year.

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

(END) Dow Jones Newswire

04-01-22 1630ET

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