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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.
Low on Workers, Manufacturers Recruit Their Executives for the Factory Floor
Covid, child care and competition from e-commerce warehouses contribute to labor shortages at many factories
Yankee Candle executives’ new side gigs include tasks such as packing the company’s products into gift baskets. Photo: Kayana Szymczak for The Wall Street Journal By Updated Jan. 9, 2021 11:38 pm ET
Wendy Marcus was midway through a recent meeting with senior leaders at Newell Brands Inc. when word came that she needed to leave immediately.
The Newell-owned factory that makes Yankee Candles was once again short on workers, and the plant needed Ms. Marcus, an R&D manager, on the assembly line to help pack the famously scented knickknacks into gift baskets.