As governments implement favorable policy measures to support the growth of their industrial sectors, we think it could be wise to bet on fundamentally sound industrial goods stocks Agilent Technologies (NYSE:A) and National Instruments (NASDAQ:NATI). These two names are rated A (Strong Buy) in our POWR Rating system. So, read on.Even though the resurgence of the COVID-19 cases continues to pose a threat to the pace of global economic recovery, industrial activities continue to rise. According to Federal Reserve data, industrial production increased 0.9% in July after moving up 0.2% in June.
The Senate passed a bipartisan infrastructure bill on August 10, and House Speaker Nancy Pelosi, D-Calif., said on August 24 that she is “committing to pass the bipartisan infrastructure bill by September 27.” This is expected to drive the demand for industrial goods.
Given this backdrop, we think it could be wise to bet on quality industrial goods stocks Agilent Technologies, Inc. (A) and National Instruments Corporation (NATI). They have an overall A (Strong Buy) rating in our proprietary POWR Ratings system.