StockNews shows 4 industrial stocks soaring to new highs

© Reuters. 4 Industrial stocks soar to new highs

The economic recovery has slowed recently, and it is almost certain that the Fed will not raise its benchmark interest rate in the short term. At the same time, the government is expected to pass a number of spending plans to stimulate industrial production. Therefore, we believe that the popular industrial stocks ABB (ABB), Trane Technology (NYSE:), Otis Universal (NYSE:) and Washington Expeditors International (NASDAQ:) should rise sharply in the near future. Let’s discuss it. In the past few months, industrial production has rebounded at an alarming rate. The phasing out of social distancing restrictions allowed the factory to operate close to full capacity. Therefore, according to the latest report of the Federal Reserve, the total industrial output value for the second quarter ended June 30 increased by 5.5% annually, while the manufacturing output value increased by 3.4% year-on-year. In addition, utility production increased by 2.7% in June.

However, the current 13-year high inflation rate is putting pressure on industrial and manufacturing activities. Nevertheless, the Fed believes that the current level of inflation is temporary, and it is expected that the central bank will maintain a moderate monetary stance in the short term to further boost industrial output. In addition, as Congress is currently debating a number of spending bills to accelerate the current economic recovery, it is expected that the gross industrial output value of the United States will rise further in the next few quarters.

Therefore, we believe that industrial stocks ABB Ltd (ABB), Trane Technologies (TT), Otis Worldwide Corporation (OTIS) and Expeditors International of Washington, Inc. (EXPD) should bring strong upside in the short term.

Continue reading stock news

Disclaimer: Converged Media I would like to remind you that the data contained on this website may not be real-time or accurate. All CFDs (stocks, indices, futures) and foreign exchange prices are not provided by exchanges, but by market makers, so prices may be inaccurate and may be different from actual market prices, which means that prices are indicative and not Suitable for trading purposes. Therefore, Fusion Media is not responsible for any transaction losses that you may suffer as a result of using this data.

Converged Media Fusion Media or anyone associated with Fusion Media will not be liable for any loss or damage caused by reliance on the data, quotations, charts, and buy/sell signals contained in this website. Please fully understand the risks and costs associated with financial market transactions. This is one of the most risky forms of investment.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *