Manufacturing Gauge Seen Reviving U.S. Industrial Stocks: Chart
(Bloomberg) -- Industrial stocks are due for a rebound because a manufacturing indicator is going their way, according to Keith Parker, head of U.S. equity strategy at UBS Group AG. In a report Monday, he contrasted the relative performance of the S&P 500 Industrials Index with the Institute for Supply Management’s manufacturing index, based on monthly surveys of corporate purchasing managers. The industrials’ ratio to the S&P 500 dropped as much as 8 percent after reaching a high in December 2016, while the ISM index rose as much as 12 percent during the same period.
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