Industrial ETFs higher on re-opening trade, stimulus hopes

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Exchange-traded funds focused on the industrial sector rallied Wednesday amid a rebound for stocks as economic data surprised to the upside. The Industrial Select Sector SPDR Fund gained 1.5% at midday, making it one of the biggest sector-tracker winners of the day. The iShares U.S. Industrials ETF was 1.3% higher. In addition to shipping and heavy machinery companies that will benefit from an economic second wind, the sector includes shares of airline companies, which were sharply higher Wednesday. United Airlines Holding Inc. shares were up nearly 4%, and Delta Air Lines Inc. shares gained 2.3% as investors absorbed promising news about coronavirus treatments and continued to bank on Washington delivering an additional round of stimulus. Over the past three months, the SPDR fund has gained 13.5% and the iShares fund is up 12.2%, both beating the 9% increase for the S&P 500 . And over the past month, both are essentially flat, beating the broad market’s 4% decline.
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