Quarterly earnings reports for our industrial stocks begin this week amid an uncertain operating environment. China's recovery is still trying to gain some traction. U.S. government spending on infrastructure projects has yet to truly kick in. Excess post-pandemic inventory is still crimping demand for new orders. And on top of all that — and always looming in the background — is the Federal Reserve's battle with inflation and the threat of a recession.
A large number of vehicles wait to be loaded at the port of Lianyungang, East China's Jiangsu province, June 5, 2023.Quarterly earnings reports for our industrial stocks begin this week amid an uncertain operating environment. China's recovery is still trying to gain some traction. U.S. government spending on infrastructure projects has yet to truly kick in. Excess post-pandemic inventory is still crimping demand for new orders. And on top of all that — and always looming in the background — is the Federal Reserve's battle with inflation and the threat of a recession.
However, industrials have been a bright spot this earnings season and we're cautiously optimistic the trend continues for each of our companies during the September quarter.
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