10-4-17 5:35 PM EDT | Email Article

Shares of manufacturing and transportation companies were slightly lower as traders awaited jobs data from the Labor Department later in the week.

A survey of private employers conducted by Automatic Data Processing Inc. showed the country added 135,000 workers in September.

Shares of India's Tata Motors rose after the company received a $171 million order to supply 10,000 electric vehicles to the Indian government over the next three to four years. Electrical-vehicle makers and mainstream auto makers have seen strong demand for their shares in recent weeks as governments in China and elsewhere make commitments to electrical-car targets.

"The 100-year-old auto industry business model is facing unprecedented technological disruption," said analysts at brokerage Morgan Stanley, in a research note. "Auto [manufacturers] and suppliers face new competitors with advantages in software, consumer electronics and cost of capital -- and may struggle to attract and retain the best talent."

Still, chemicals processors with exposure to lithium batteries, tire makers such as Goodyear, and trucking lines with a focus on efficiency are among the old-line industries set to benefit from the shift.

Ford Motor said it will shift about $7 billion toward the development of more trucks and sport-utility vehicles, doubling down on a popular part of its business.

 

Rob Curran, rob.curran@dowjones.com

 

(END) Dow Jones Newswires

October 04, 2017 17:35 ET (21:35 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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