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Industrial stocks like 3M could be big beneficiaries when the U.S. economy finally reopens. Angus Mordant/Bloomberg
Concerns about the state of the U.S. economy finally caught up to industrial stocks but the sector still looks like it could be one of the big beneficiaries when the U.S. economy finally reopens.
It was a bad week for industrial stocks. The
Industrial Select Sector SPDR exchange-traded fund (ticker: XLI) fell 0.9% this past week despite strong industrial production data on Friday, which showed a rise of 1.6%. But industrials really haven’t been the “It” sector for quite a while now. After surging 20% from Oct. 28 through Nov. 24, the Industrial ETF has been trading virtually sideways, dipping 0.5% through Friday’s close.