Up and Adam

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.

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
• Disclosures

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