UPS leads weekly declines in large-cap industrials
RayOneMedia
United Parcel Serviceâs (NYSE:UPS) this week fell 4.3% for the biggest decline among large-cap industrial stocks.
The Industrial Select Sector SPDR ETF (NYSEARCA:XLI), whose holdings include some of the largest U.S. companies in the sector, fell 1% for the week.

The decline mirrored losses for the broader market. The Standard & Poorâs 500 stock index (SP500) fell 0.3%. The Dow Jones Industrial Average (DJI) fell 1.1%, in contrast to the Nasdaq Composite (COMP.IND), which rose 0.4% for the month.
Large-cap stocks making up more than 90% of the S&P 500âs market value have reported quarterly earnings. More than three-fourths of those companies beat analyst estimates, compared with the 66% average, according to Refnitiv data cited by The Wall Street Journal.
UPS (UPS) declined steadily in the past couple of weeks, magnifying a 10% drop after the shipping and logistics company reported disappointing Q1 results.
Boeing (NYSE:BA) stood out with its 1.2% gain for the week, lifted by a major aircraft order from one of its biggest customers, Ryanair (NASDAQ:RYAAY). The European discount carrier plans to buy 150 of Boeing's (BA) best-selling 737 Max jetliner with options for 150 more. Its stock is up 2.7% year-to-date, compared with a 7.8% gain for the S&P 500 (SP500).
Boeing (BA) may get a lift from the easing of geopolitical tensions between the United States and China. Press reports have indicated that officials from both countries are discussing ways to steady relations. Boeing (BA) built 138 of its 737 Max jets for Chinese airlines, but they've been warehoused while awaiting delivery.







Company (Ticker)
Weekly change, May 12


Automatic Data Processing (NASDAQ:ADP)
-1.3%


Boeing (BA)
1.2%


Caterpillar (NYSE:CAT)
-2.6%


Deere (NYSE:DE)
-1.9%


General Electric (NYSE:GE)
-1.5%


Honeywell International (NASDAQ:HON)
-2.5%


Industrial Select Sector SPDR ETF (XLI)
-1.0%


Lockheed Martin (NYSE:LMT)
-1.0%


Raytheon Technologies (NYSE:RTX)
-0.6%


Union Pacific (NYSE:UNP)
-1.1%


United Parcel Service (UPS)
-4.3%