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LHX - XLI: Breakout Year Expected In Industrials Despite Manufacturing Slump
L3Harris Technologies Inc.
The industrials sector (XLI) started 2020 with a bang, up close to 2% on first day of trading on economic optimisms led by the manufacturing sector, which has been in contractionary territory for 5 consecutive months based on the ISM indicator. However, the hopes were dampened on Friday as the latest reading of the manufacturing ISM plummeted to lowest level since 2009 at 47.1.