The reads below are for when business conditions read stronger than expected. Expect the opposite when conditions read weaker.
Basic MaterialsUsually helpsMore building and manufacturing means more demand for raw materials.
Consumer CyclicalUsually helpsA stronger economy means more consumer spending.
EnergyUsually helpsA busier economy burns more fuel.
Financial ServicesUsually helpsBusinesses borrow more when they are growing.
IndustrialsUsually helpsIndustrial companies sell into exactly this activity.
UtilitiesUsually hurtsUtilities fall when a strong economy lifts rates.
Communication ServicesLittle effectLittle direct link.
Consumer DefensiveLittle effectEveryday essentials sell the same either way.
HealthcareLittle effectHealthcare does not track the business cycle.
Real EstateLittle effectMore tenants but higher rates; mixed.
TechnologyLittle effectCompany tech budgets follow growth with a delay; higher rates offset it on the day.