The Industrials are breaking out! $XLI – February 1, 2024
This is Scott with your Chart of the Day. I want to take a look at the Industrial Sector ( NYSEARCA: XLI ).
There has been a lot of talk recently about AI, semiconductors, and the Magnificent Seven, but the Industrial Sector ETF, XLI ( NYSEARCA: XLI ) has hit a new all-time high today. This, of course, has stocks inside like Caterpillar ( NYSE: CAT ). It has Uber ( NYSE: UBER ). It has stocks like GE ( NYSE: GE ) and the like.
All of these stocks have been working beautifully for most of the year. So this is definitely a sector that I think should get your attention if it doesn’t have it already. This is something that we are watching at StockMarketMentor.com, and I think it should definitely have a spot on your watch list.
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