CashNews.co
The industrial sector (XLI) has faced challenges, with industrial production falling 0.6% in July due to the impact of Hurricane Beryl. Gabelli Funds portfolio manager Brian Sponheimer joins Market Domination to discuss strategies for investing in industrial stocks.
Sponheimer notes that the industrial space is not a “one-size-fits-all market.” He observes that areas related to energy, aerospace, defense, or AI have performed well, while industries like mining and machinery have underperformed. “A lot of the commodity-driven spending… is really impacting a lot of these names,” he tells Yahoo Finance.
In terms of investment strategies, Sponheimer names farm equipment manufacturer Deere & Co. (DE) as “the vanguard” of industrials:
“Deere’s been a great company, and I think it’s relatively attractive at these levels,” Sponheimer states. However, he also highlights a major competitor to Deere, CNH Industrial (CNH), as another good option for investors.
For more expert insight and the latest market action, click here to watch this full episode of Market Domination.
This post was written by Angel Smith