UPS, Boeing lead August decline for big-cap industrial stocks
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United Parcel Service (NYSE:UPS) and Boeing (NYSE:BA) fell the most in August among large-cap industrial stocks, which as a group decline during the month.
Greater-than-expected declines in package volume led several Wall Street analysts to downgrade UPS (UPS). Cost pressures also were evident as the Teamsters union ratified a five-year contract that provides for higher wages and other improvements.
Boeing (BA) in August said it had identified another manufacturing issue with the 737 Max passenger jet, a major source of cash flow for the plane maker. The company has worked to increase aircraft deliveries amid supply-chain constraints and manufacturing issues.

The Industrial Select Sector SPDR ETF (NYSEARCA:XLI), whose holdings include some of the biggest U.S. companies in the sector, slipped 2% in August.
The Standard & Poorâs 500 stock index (SP500), down 1.8% in August, and Nasdaq Composite (COMP.IND), down 2.2%, ended a five-month streak of gains. The Dow Jones Industrial Average (DJI) fell 2.4%, its first monthly decline since May.
Energy stocks were the only ones to post gains for August. Benchmark U.S. crude in August managed rose 2.2% to $83.63 a barrel. Saudi and Russian cuts in output pushed companies to draw from existing stockpiles. Natural-gas futures for October delivery rose 5.1% in August.

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