Published on 23 Nov 2021 on Zacks via Yahoo Finance
The industrial sector has been attracting investor attention as the gradual reopening of U.S. and global economies highlights brighter prospects. Consumer confidence in the United States rose in October primarily on the heels of easing Delta variant concerns, improving labor market conditions, rebounding U.S. economy from the pandemic-led slump and accelerated coronavirus vaccine rollouts.
The latest data on U.S. industrial output appears to be encouraging as recoveries from the damages caused by Hurricane Ida are apparent. Per the Fed’s recently-released data, total industrial production increased 1.6% in October after declining about 1.3% in September. There was a 1.2% rise in manufacturing output (hitting its highest level since March 2019). Going on, there was a 1.2% uptick in utility production and a 4.1% upside in mining production.
Against this backdrop, we take a look at ETFs exposed to the sector and the impact of some big industrial earnings releases on them: