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General Electric (NYSE:GE) on Tuesday led gains among large-cap industrial stocks with a 5.4% gain by 12:14 p.m. ET, as U.S. equity markets rallied for a second day.
Worries that companies can’t find workers eased somewhat after the JOLTs report for August showed 10.053 million job openings, compared with the estimate for 10.755 million. A softer job market combined with lower inflation might give the Federal Reserve a reason to be less aggressive about rate hikes.
The Industrial Select Sector SPDR ETF (NYSEARCA:XLI), whose holdings include big-cap industrial stocks, gained about 3.1% by mid-day Tuesday. If the gain holds through the close, it will be biggest advance since July 19.
| Industrial Select Sector SPDR Fund -Top Holdings | |
| Company (Ticker) | % change, 12:14 p.m. ET |
| Boeing (NYSE:BA) | 5.2% |
| Caterpillar (NYSE:CAT) | 4.3% |
| Deere & Co. (NYSE:DE) | 3.2% |
| General Electric (GE) | 5.4% |
| Honeywell International (NASDAQ:HON) | 2.6% |
| Lockheed Martin (NYSE:LMT) | 0.9% |
| Northrop Grumman (NYSE:NOC) | 1.1% |
| Raytheon Technologies (NYSE:RTX) | 3.1% |
| Union Pacific Corp. (NYSE:UNP) | 2.7% |
| United Parcel Service (NYSE:UPS) | 3.1% |