A Few Cyclicals to Consider
Is it time to climb on the cyclical bandwagon?
The past few weeks have brought a deluge of economic data supporting a recovery for America's hard hit industrial manufacturers. Orders for durable goods, reported on November 29, soared 12.8% in October, and November's National Association of Purchasing Managers (NAPM) Index leapt from 39.8 to 44.5, well above forecasts. Reports like these surely helped drive the Dow back over 10,000.
So, is it time to climb on the cyclical bandwagon? Our star ratings suggest not--with a few exceptions.
Josh Peters, CFA does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.