3 Dirt-Cheap Industrial Stocks to Catapult Higher on Lower Interest Rates
On Friday, Fed Chair Jay Powell gave a highly dovish speech at the Jackson Hole symposium, indicating the U.S. will see its first interest rate cuts since the onset of the COVID-19 pandemic in September.
The fastest-ever increase in the federal funds rate has helped to bring inflation down, but it has come at a cost. Cyclical sectors such as industrial equipment stocks have taken it on the chin.
Last week, industrial and automotive chip giant Texas Instruments noted its chip volumes were now actually below those seen in 2019, the date of the last big industrial downturn.But with the Federal Reserve seemingly set on a rate-cutting cycle, beaten-down industrial stocks could snap back with a vengeance.
Source Fool.com