Shares of industrial stocks are trading higher amid overall market strength following May CPI data. Additionally, China's central bank cut the seven-day reverse repurchase rate, which could lift economic growth outlook.
Portfolio Pulse from Benzinga Newsdesk
Industrial stocks are trading higher due to overall market strength following May CPI data and China's central bank cutting the seven-day reverse repurchase rate, potentially lifting economic growth outlook.
June 13, 2023 | 7:14 pm
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POSITIVE IMPACT
Caterpillar Inc. (CAT) shares are trading higher amid overall market strength and China's central bank rate cut, which could improve economic growth outlook.
The overall market strength following May CPI data and China's central bank cutting the seven-day reverse repurchase rate positively impacts Caterpillar Inc. (CAT) as it could lead to increased demand for industrial products and services, thus potentially lifting the company's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Deere & Company (DE) shares are trading higher amid overall market strength and China's central bank rate cut, which could improve economic growth outlook.
The overall market strength following May CPI data and China's central bank cutting the seven-day reverse repurchase rate positively impacts Deere & Company (DE) as it could lead to increased demand for industrial products and services, thus potentially lifting the company's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50