With an enduring tailwind of political and financial support set to increase domestic manufacturing activity, industrial stocks CIRCOR International, Inc. (CIR), The Manitowoc Company, Inc. (MTW), and DXP Enterprises, Inc. (DXPE) are well-positioned to deliver solid returns.
Amid souring relationship and rising tensions between the U.S and China, not helped by Xi Jinping’s ascension to an unprecedented third term in power, there is an ever-increasing imperative for the American economy to become self-reliant in manufacturing and critical infrastructure in an increasingly fragmented world that also needs to manage an energy transition to combat the common threat of climate change.
To that end, the Bipartisan Infrastructure Law has already provided more than $185 billion in funding for over 6,900 projects, including 2,800 bridge repair and replacement projects.
In addition, the CHIPS and Science Act has authorized $280 billion to be doled out for domestic manufacturing of semiconductors and research in the applied sciences at agencies such as the NSF.
The Inflation Reduction Act (IRA) of 2022 aims to catalyze…
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