Energy Companies are Slashing Spending: Stocks to Avoid
The crash in the price of oil hasn't been the headline news that it might have been if the COVID-19 pandemic hadn't been front and center of attention. However, that shouldn't detract from how serious the impact is likely to be in one of the most important industry verticals in the industrial sector.
Oil and gas companies are significantly lowering their capital spending, and this is inevitably going to affect the beleaguered industrial sector, and in particular, stocks like Apergy (NYSE: APY), Emerson Electric (NYSE: EMR), and industrial supply companies like MSC Industrial (NYSE: MSM).
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Source Fool.com
