Want to Buy the Dip? This Industrial Stock Is a Smart Buy
The U.S. Federal Reserve has made it very clear that interest rates are still heading higher, which could very well push the economy into a recession. In fact, there have already been two consecutive quarters of negative gross domestic product, which is often taken as a shorthand indication of a recession. So it shouldn't be too surprising that stocks have fallen sharply. But that could be an opportunity for long-term investors to add Rockwell Automation (NYSE: ROK) to their portfolios.
There's a saying on Wall Street that trees don't grow to the sky. The market is more like a sine curve with a gentle upward slope over time. Right now, well, things aren't looking too good, with the Dow 30 and the S&P 500 Index both in bear market territory. Investors have a habit of throwing the baby out with the bathwater when they are scared, so a lot of stocks, even ones backed by great companies, are falling sharply.
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Source Fool.com
