This stock could stand to gain as the need for automation grows amid sticky wages.
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.
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