© Reuters. 4 No-Brainer Industrial Stocks to Invest $1,000 In Right Now
Even though investors continue to be concerned about the economy’s recovery due to the rapid spread of the COVID-19 Delta variant, the industrial sector has been attracting much investor attention due primarily to President Biden’s proposed infrastructure bill. So, we think it could be wise to scoop up the shares of quality industrial stocks Vale (VALE), CEMEX (CX), Owens Corning (NYSE:), and ITT (NYSE:). Read on for additional insight.The resurgence of COVID-19 cases due to the rapid spread of the highly contagious Delta variant has been a significant concern for investors looking to benefit from the economic recovery. However, Goldman Sachs Group , Inc. (NYSE:) equity strategist David Kostin said recently that “the new strain should not pose a major market risk.”
The Federal Reserve’s near-zero interest rates, a rapid vaccination program, and supportive government policies have boosted the industrial sector’s growth. Furthermore, U.S. Senators unveiled a nearly $1 trillion bipartisan infrastructure package yesterday, which includes $550 billion in new spending for roads, rails, and bridges, among other infrastructure. This proposed spending is expected to help the sector grow significantly in the coming months.
Given this backdrop, the shares of fundamentally strong industrial companies Vale S.A. (VALE), CEMEX, S.A.B. de C.V. (CX), Owens Corning (NYSE:) (OC), and ITT Inc. (ITT) should soar. So, if one has current plans to invest $1,000, we believe buying these three stocks could be rewarding.
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