3 Industrial Stocks to Bolster Your Portfolio in 2024

After a somewhat okay 2023, industrial stocks could post more gains. Last year, the Industrial Select Sector SPDR Fund (NYSEARCA:XLI) gained 14%, lagging the S&P 500’s return. Although the sector is fully valued at 19 times the next 12 month’s earnings, there are several tailwinds.So, what are some of these tailwinds? First is reshoring and nearshoring, whereby U.S. companies relocate their manufacturing footprints locally or to Mexico. That addresses geopolitical tensions and the supply chain challenges ex ...