Tariff Angst Resurfaces Ahead of Earnings From Industrial Giants

Makers of power equipment, heavy machinery and air conditioners have been among the big winners in the US stock market this year, but renewed tariff concerns put them at risk of stumbling as earnings season gets underway.

Though easing tensions in the Middle East powered industrial stocks to gains last week along with the broader market, the advance belied intense volatility under the surface. Fastenal Co. slid last Monday after the industrial distributor said tariffs had squeezed margins, and there was widespread selling on Wednesday after Canadian maker of recreational vehicles BRP Inc. detailed the way changes to US duties on metals would increase input costs.