Report published June 1, 2026
Up & Adam: Resilience in Market Leadership and Tech Sector Momentum
Raymond James · June 1, 2026
Raymond James notes the S&P 500's historic nine-week winning streak while highlighting that underlying index construction reveals value is outperforming growth in some segments. Key economic data, including PMI and labor reports, are the primary focus ahead of the June FOMC meeting.
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Key Takeaways
- 1.US Manufacturing and Services PMI data this week will focus on price subindices and labor market health ahead of the June FOMC meeting.
- 2.The S&P 500 and Technology sector have both achieved a rare nine-week winning streak, a level of momentum seen only ten times since 1930.
- 3.The software industry is rebounding from AI-displacement fears, gaining 7% last week and showing 28% growth off its recent lows.
Table of Contents
- Previous Close
- Future
- ISM Manufacturing PMI At 10:00 AM ET Kicks Off A Busy Week Of Economic Data Releases
- Inflation Measures Paint Different Pictures—Highlighting The Challenge For Policymakers
- Tech Only Sector Joining S&P 500 On Nine Week Winning Streak
- An Unlikely Winner In Performance Last Week: Software
- Despite Strong Gains In Technology Stocks, Large-Cap Value Outperforming YTD
Report data
Chart of the Day: Value Outperforming Growth
| Metric | Estimate | Context |
|---|---|---|
| S&P 500 YTD Return | 10.7% | Performance of major US index. |
| Micron YTD Return | 240% | Individual stock performance driving index divergence. |
| Dallas Fed Trimmed Mean PCE | 2.35% | Inflation measure cited as being 'still contained'. |
| Raymond James Friday Jobs Report Estimate | 70,000 jobs | Estimate for upcoming labor data. |
Reports in this series
Up and Adam is shown in chronological order through this edition, published on June 1, 2026.
Part of the Up and Adam series — view all 19 editions
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