If there's a recession it will likely be consumer based and focused on discretionary spending. With all the federal money available for infrastructure buildout I suspect industrial and materials will continue to do well.
CAT continues to set all-time highs—stock currently +61% from 12-month bottom.
Recession?
I'm not clear how you look at Cat or Deere and make any correlation to a recession. In the 70's, 80's and 90's did you look at Oil prices and conclude what recession?
Cat and Deere are in transformational business's today and will enjoy a nice cycle.
If I want to consider a recession I'd rather pay attention to JP Morgans and Wells mortgage origination's this week that went from $42b and $48b to $7b nd $15b, back to early 2000's numbers.
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