Report published May 13, 2026

Up and Adam: Inflation, Defense Spending, and Market Outlook (May 13, 2026)

Raymond James · May 13, 2026

The report highlights the upcoming April CPI data as the primary driver for potential Fed rate cuts while maintaining a positive outlook on the Industrials and Technology sectors despite geopolitical tensions and overbought technical levels.

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Finvaulta summarizes Raymond James's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.Focus on Core CPI as the key driver for potential Fed rate cuts later this year.
2.European military buildup and replenishment of stockpiles are positive for US defense contractors and the Industrials sector.
3.Despite being overbought technicaly, the Technology sector remains fundamentally strong due to EPS growth and positive market breadth.

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Report data

Tech Leads Gains Since March 30

Metric	Estimate	Context
S&P 500 YTD Return	8.3%	Performance of US large caps.
Core CPI YoY Consensus	2.7%	Market consensus for core inflation.
Financial Stress in Workers	68%	Workers reporting financial stress.
Technology Sector Gain	34.2%	Sector performance since market lows.