Wells Fargo’s Scott Wren is bullish on Industrials and Materials thanks to AI

seekingalpha06-27

Wells Fargo Investment Institute (WFII) expects companies in the Industrials and Materials sectors to contribute to artificial intelligence (AI) related infrastructure build out, adding that the ...

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thanks to AI\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-27 01:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4119687-wells-fargos-scott-wren-is-bullish-on-industrials-and-materials-thanks-to-ai><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wells Fargo Investment Institute (WFII) expects companies in the Industrials and Materials sectors to contribute to artificial intelligence (AI) related infrastructure build out, adding that the ...</p>\n\n<a href=\"https://seekingalpha.com/news/4119687-wells-fargos-scott-wren-is-bullish-on-industrials-and-materials-thanks-to-ai\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FXZ","symbol_name":"First Trust Materials AlphaDEX 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infrastructure build outs that will benefit the basic industries that both of these sectors represent, even in a slower-growth economy,” WFII's senior global market strategist, Scott Wren, said in a research note on Wednesday. One of the key reasoning behind the choice of Industrials and Materials for WFII is the fact that the U.S. government and various private sector entities across the world are proposing large-scale AI related expenditures to upgrade and improve infrastructure over the course of the coming years. Within the Industrials segment, stocks in industries such as building products, construction and engineering, construction machinery and heavy transportation equipment, industrial conglomerates, and electrical components should benefit from the spending surge related to AI, WFII's Wren indicated. Industrials ETFs: (NYSEARCA:XLI), (VIS), (FXR), (IYJ), (FIDU), (RSPN). Regarding the Materials sector, industry groups such as construction materials, copper, and steel should also benefit from the artificial intelligence push. 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