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Following the Senate’s passage of a $1.2 trilling infrastructure bill last month, Democrats are pushing a $3.5 trillion budget reconciliation bill. House Speaker Nancy Pelosi has insisted that the infrastructure bill would not be voted on until the Senate passed the $3.5 trillion spending plan. If this bill is passed, the overall spending on infrastructure should propel the growth of the industrial machinery market.
So, we think it could be wise to bet on industrial machinery stocks Cummins Inc. (CMI), Nordson Corporation (NDSN), and Crane Co. (CR). These stocks are well-positioned to benefit from the approval of the infrastructure bill and deliver solid returns in the near term.
