Shares of industrial and transportation companies rose amid deal activity and more-muted-than-anticipated inflation data.
The personal-consumption-expenditure index, the Federal Reserve's preferred inflation gauge, rose 2.7% in March from a year earlier, but that was still more modest than some investors had expected after the price data in Thursday's gross-domestic product data, said analysts at brokerage Bank of America Global Research.
Industrial materials processor U.S. Silica Holdings agreed to a roughly $1.85 billion buyout from investment firm Apollo Global Management.
Knight-Swift Transportation, the largest U.S. truckload carrier, said it's looking for potential targets to build out its less-than-truckload network, a market with relatively stable earnings and competition to offset cyclical risks.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-26-24 1743ET
