The industrials sector is trading significantly higher in the pre-market, largely driven by a major rally in Generac Holdings (GNRC) shares. Generac announced a long-term agreement to supply backup generators for Amazon's data centers, with an initial phase valued at approximately $2.4 billion and a potential for up to $8 billion. This news has caused Generac's stock to surge over 34% pre-market, lifting the broader industrials sector and the XLI ETF.
Industrials Sector Jumps on Generac's Multi-Billion Dollar Amazon Deal