This week Deere (DE) posted the biggest advance among large-cap industrial stocks with a gain of 6.5% to $441.47 a share. The maker of farm tractors and crop harvesters hit a record high on Wednesday after reporting Q4 earnings and revenue that beat estimatesoffering an optimistic outlook for 2023.
The SPDR ETF (XLI) Industrials Index, which includes the largest companies in the manufacturing sector, rose 1.2% during the holiday week. US markets were closed Thursday for the Thanksgiving holiday, and ended trading three hours early on Friday.
The Standard & Poor’s 500 (SP500) is up 1.5% for the week, and has posted gains in four of the past six weeks. The Dow Jones Industrial Average (DJI) advanced 1.8% this week, gaining in six of the past eight weeks.