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Automatic Data Processing (NASDAQ:ADP) this week rose 4.9% for the biggest decline among big-cap industrial stocks. The Industrial Select Sector SPDR ETF (NYSEARCA:XLI), whose holdings include some of the largest U.S. companies in the sector, rose 2.3% for the week.
The gains came as markets worldwide got a lift from data showing that the pace of inflation had slowed. Lower inflation would give the Federal Reserve a major reason to pause its aggressive interest-rate hikes.
The Standard & Poor’s 500 stock index (SP500) on Friday traded around the highest close since April 2022. The Dow Industrials Average (DJI) rose 2.3% and the Nasdaq Composite (COMP.IND) gained 3.3% — the best week since March.
| Company (Ticker) | Weekly change, July 14 |
| Automatic Data Processing (ADP) | 4.9% |
| Boeing (NYSE:BA) | 0.5% |
| Caterpillar (NYSE:CAT) | 4.3% |
| Deere (NYSE:DE) | 2.3% |
| General Electric (NYSE:GE) | 1.9% |
| Honeywell International (NASDAQ:HON) | 1.4% |
| Industrial Select Sector SPDR ETF (XLI) | 2.3% |
| Lockheed Martin (NYSE:LMT) | 1.2% |
| Raytheon Technologies (NYSE:RTX) | -1.3% |
| Union Pacific (NYSE:UNP) | 4.0% |
| United Parcel Service (NYSE:UPS) | 3.1% |
