The US manufacturing sector continued its expansion in February, with the Manufacturing PMI rising to 50.3%, a slight decrease from January’s 50.9%. This marks the fifth consecutive month of growth, with the sector showing resilience despite a decline in New Orders Index to 48.6% from 55.1%.
Analysts point to the energy sector as a potential beneficiary of the administration’s shift towards traditional fuel sources. Chevron and ConocoPhillips, both with Strong Buy ratings, have seen their stocks rise. However, investors should note that Chevron has less upside potential at 11.87%, compared to ConocoPhillips’ higher potential of 34.83%.
Source: https://www.tipranks.com/news/february-pmi-report-economic-expansion-continues-despite-manufacturing-contraction