Industrial equipment names head higher

|By:, SA News Editor

While Stifel issued a cautious note yesterday for industrial stocks, Raymond James is bullish on the industrial equipment wholesale sector.

MSC Industrial (MSM +3%), Fastenal (FAST +2.2%), HD Supply (HDS +0.9%) are all advancing on the news, with the SPDR Industrials Sector ETF (XLI +0.4%) not far behind.

Despite the movement, W.W. Grainger (GWW -0.3%) is lower after receiving downgrades at Stephens, Baird and Credit Suisse.