Shares of industrial and transportation companies ticked down as interest-rate concerns lingered.
"Friday's robust jobs report spooked investors due to high creation of new jobs," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "This reinforces the idea that a cut is not on the near-term horizon. If anything, a hike might be up next."
Honeywell International shares fell even after the manufacturing conglomerate reiterated its prior 2026 growth projections.
German manufacturing orders dropped in April, with weak demand set to persist amid the high uncertainty prompted by the war in Iran.
Write to Rob Curran at rob.curran@dowjones.com
