"Industrials broadly ... have been a big part of this new leadership we've seen in the market since the March bear market low. ... If you were to kind of screen for stocks that were the poorest performers through the bear market into the March bottom and have subsequently become leadership, you see a lot of industrial stocks on there — probably less so the brand name industrial stocks, more a lot of mid-caps in there.
Caterpillar, reporting on Tuesday morning, is expected to post quarterly earnings of $1.17 a share, according to FactSet estimates. That would mark a sharp drop from $2.66 a share a year earlier."Old Dominion ... [is] consolidating between its September high and its 100-day moving average. Bullish trends suggest you get the breakout to the upside," said Wald.
Old Dominion, which also reports Tuesday, is set to report profit of $1.52 a share in its September-ended quarter, up from $1.37 a year earlier.
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