Industrials ETFs rally on sector broadening, airline stimulus hopes

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Exchange-traded funds focused on the industrial sector outperformed Wednesday as investors scooped up stocks that haven’t participated in the year-long tech and consumer-led rally. The Industrial Select Sector SPDR Fund was up 2.3% in the late morning, as was the Vanguard Industrials ETF , nearly double the gain in the broader market . The iShares U.S. Industrials ETF gained more than 2%. The sector is down about 4.4% in the year to date, compared with a more-than 26% gain for the technology sector. Some of that year-to-date decline is because the category includes airlines, which have been hammered on stay-at-home orders. But on Wednesday, stocks like United Airlines Holdings, Inc. and American Airlines Group, Inc. were up nearly 4% in morning trade on hopes for fiscal stimulus.
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