Investor Bill Baruch said he likes Rockwell Automation as sticky wages further increase employers' interest in trimming labor costs. Rockwell has lost about 25% of its value so far this year. That means it has performed worse than the S & P 500 , which has shed more than 15% in the same period.
" Data released Friday showed nonfarm payrolls surpassed expectations in November, while the unemployment rate was unchanged. Average hourly wages jumped 0.6% from the prior month, and they climbed 5.1% from a year ago, also exceeding analyst expectations. That's bad news for the central bank, which has typically looked to wages coming down as one indicator of a contracting economy.
Source: The AI Report (theaireport.net)
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