July payrolls > 60k
54.5%Current Kalshi probability
- Ticker
- KXPAYROLLS-26JUL-T60000
- Quote
- 49¢ / 60¢
- Status
- Active
- Resolution
- 2026.08.07
- As of
- Quote as of 2026.05.27 02:23 UTC
Category note · Demand cycle
July payrolls > 60k
Will more than 60,000 jobs be added in July 2026?
Resolves on 2026.08.07. The market trades at 54.5% as of 2026.05.27 — splitting roughly even. Linked to 458 S&P 500 names including BRK.B, WMT, LLY, MU, V.
Market map
Referenced companies by sector
36 companies shown · 422 more referenced · 5 more sectors
Financials
74 referenced
Industrials
73 referenced
Information Technology
60 referenced
Health Care
59 referenced
Consumer Staples
36 referenced
Consumer Discretionary
39 referenced
Companies referenced
BRK.BWMTLLYMUVINTCJNJCOSTMACSCONFLXABBVBACUNHKOPGPLTRGEMSPMGEVMRKRTXLINWFCCSNDKAXPTMUSPEPIBMVZNEEMCDBADISAMGNSTXANETTPANWTMOGLWBLKWDCGILDTJXAPPUNPAPHSCHWETNUBERDELLWELLISRGBXPFEABTVRTCRMCRWDHONPLDNEMSPGICBBKNGSBUXCVSLMTDHRMOPGRBMYPWRCOFVRTXSYKPHHWMINTUEQIXCEGSOACNCMETTCDNSMDTSNPSDUKADBECMIHCAFCXGDMARNOWBKWMBKKRCMCSAMCKICEWMPNCJCIADPELVUSBMNSTUPSFTNTAMTCSXCIENABNBBSXNOCMDLZCIMCOMRSHMPWRSPGLITEEMRSHWORLYAPOREGNMMMCRHNXPICOHRITWKMIAEPHLTDDOGFIXECLHOODROSTNSCCLRCLGMDLRWBDDASHAPDAONTDGCTASMSITRVNKETELRSGKEYSSREURITFCPCARAFLGWWOLHXAZOOXYFANGOKEALLDTGTCTVATRGPCOINPSACARRDVNAMEMCHPCVNANUEETRCORAJGROKNDAQMETEAXELFASTADSKVSTEBAYDALEXCEWGRMNWABFITBVTRXYZCAHAMPMSCICBREYUMIDXXCMGTTWOSTTEMEKRONBDXAIGHPEPYPLCCIODFLKDPEDPEGHSYADMLYVIBKRIRMSATSCBOEPCGJBLWECHIGVMCPRUHUMQSYYMLMEQTWATCCLLVSPAYXSTLDKVUEACGLROPKMBZTSCPRTCASYHBANAAXONVICIELEXRMTBATOAEENTRSRJFDTEWDAYRMDBIIBTDYCNCFISVIQVDOVNRGIROTISDOWGEHCFOXAARESKHCTPLCNPEIXPPLTPREXPEXYLCFGVEEVAVBVRSNFEESHUBBROLCINFFICOAWKWRBEQRSTZFSLRBGALBLYBSYFTSNWTWPPGDXCMRFKEYEXENTAPDRIDGSBACCMSNICTSHJBHTFISCHDCPAYULTAWSTTROWVRSKPFGAKAMOMCMTDLVLTOSWMRNALHDGXCHTRDDSTEWSMRLEXPDEFXIFFCFFFIVVTRSINCYCHRWSMCIPKGHPQEVRGSNABROGPNLNTFTVGISAMCRLIIIPDLTRBRESSWYINVHPTCBENLDOSZBHTSCOKIMGNRCIEXTXTNDSNBALLMAAHSTLULUNWSAMASREGGPCEGTKODOCCSGPJDECKHASGENTRMBHIIAPATYLSOLVDVACDWMKCIVZSWKAVYBF.BPNRUDRPNWAIZBBYGLPSKYZBRAALGNCOOAPTVGDDYERIEALLEHRLRVTYPODDCLXSJMCPTDPZAESJKHYUHSITWYNNFRTSWKSTTDMGMBXPBAXCRLAREAOSHSICFDSTAPTECHNCLHMOSCAGPOOLCPBEPAM
Berkshire Hathaway
Berkshire Hathaway is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Walmart
Walmart is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Lilly (Eli)
Lilly (Eli) is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Micron Technology
Micron Technology is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Visa Inc.
Visa Inc. is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Intel
Intel is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Johnson & Johnson
Johnson & Johnson is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Costco
Costco is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Mastercard
Mastercard is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Cisco
Cisco is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Netflix
Netflix is included because advertising, subscription, and consumer activity shift with the economic cycle.
AbbVie
AbbVie is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Bank of America
Bank of America is included because credit demand, fee activity, and loss expectations move with the economic cycle.
UnitedHealth Group
UnitedHealth Group is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Coca-Cola Company (The)
Coca-Cola Company (The) is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Procter & Gamble
Procter & Gamble is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Palantir Technologies
Palantir Technologies is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
GE Aerospace
GE Aerospace is included because freight, production, and capital spending move with industrial demand.
Morgan Stanley
Morgan Stanley is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Philip Morris International
Philip Morris International is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
GE Vernova
GE Vernova is included because freight, production, and capital spending move with industrial demand.
Merck & Co.
Merck & Co. is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
RTX Corporation
RTX Corporation is included because freight, production, and capital spending move with industrial demand.
Linde plc
Linde plc is included because construction, manufacturing, and commodity demand move with economic activity.
Wells Fargo
Wells Fargo is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Citigroup
Citigroup is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Sandisk
Sandisk is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
American Express
American Express is included because credit demand, fee activity, and loss expectations move with the economic cycle.
T-Mobile US
T-Mobile US is included because advertising, subscription, and consumer activity shift with the economic cycle.
PepsiCo
PepsiCo is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
IBM
IBM is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Verizon
Verizon is included because advertising, subscription, and consumer activity shift with the economic cycle.
NextEra Energy
NextEra Energy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
McDonald's
McDonald's is included because household spending and discretionary demand move with the economic cycle.
Boeing
Boeing is included because freight, production, and capital spending move with industrial demand.
Walt Disney Company (The)
Walt Disney Company (The) is included because advertising, subscription, and consumer activity shift with the economic cycle.
Amgen
Amgen is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Seagate Technology
Seagate Technology is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Arista Networks
Arista Networks is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
AT&T
AT&T is included because advertising, subscription, and consumer activity shift with the economic cycle.
Palo Alto Networks
Palo Alto Networks is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Thermo Fisher Scientific
Thermo Fisher Scientific is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Corning Inc.
Corning Inc. is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
BlackRock
BlackRock is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Western Digital
Western Digital is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Gilead Sciences
Gilead Sciences is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
TJX Companies
TJX Companies is included because household spending and discretionary demand move with the economic cycle.
AppLovin
AppLovin is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Union Pacific Corporation
Union Pacific Corporation is included because freight, production, and capital spending move with industrial demand.
Amphenol
Amphenol is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Charles Schwab Corporation
Charles Schwab Corporation is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Eaton Corporation
Eaton Corporation is included because freight, production, and capital spending move with industrial demand.
Uber
Uber is included because freight, production, and capital spending move with industrial demand.
Dell Technologies
Dell Technologies is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Welltower
Welltower is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Intuitive Surgical
Intuitive Surgical is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Blackstone Inc.
Blackstone Inc. is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Pfizer
Pfizer is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Abbott Laboratories
Abbott Laboratories is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Vertiv
Vertiv is included because freight, production, and capital spending move with industrial demand.
Salesforce
Salesforce is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
CrowdStrike
CrowdStrike is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Honeywell
Honeywell is included because freight, production, and capital spending move with industrial demand.
Prologis
Prologis is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Newmont
Newmont is included because construction, manufacturing, and commodity demand move with economic activity.
S&P Global
S&P Global is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Chubb Limited
Chubb Limited is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Booking Holdings
Booking Holdings is included because household spending and discretionary demand move with the economic cycle.
Starbucks
Starbucks is included because household spending and discretionary demand move with the economic cycle.
CVS Health
CVS Health is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Lockheed Martin
Lockheed Martin is included because freight, production, and capital spending move with industrial demand.
Danaher Corporation
Danaher Corporation is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Altria
Altria is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Progressive Corporation
Progressive Corporation is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Bristol Myers Squibb
Bristol Myers Squibb is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Quanta Services
Quanta Services is included because freight, production, and capital spending move with industrial demand.
Capital One
Capital One is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Vertex Pharmaceuticals
Vertex Pharmaceuticals is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Stryker Corporation
Stryker Corporation is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Parker Hannifin
Parker Hannifin is included because freight, production, and capital spending move with industrial demand.
Howmet Aerospace
Howmet Aerospace is included because freight, production, and capital spending move with industrial demand.
Intuit
Intuit is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Equinix
Equinix is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Constellation Energy
Constellation Energy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Southern Company
Southern Company is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Accenture
Accenture is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
CME Group
CME Group is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Trane Technologies
Trane Technologies is included because freight, production, and capital spending move with industrial demand.
Cadence Design Systems
Cadence Design Systems is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Medtronic
Medtronic is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Synopsys
Synopsys is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Duke Energy
Duke Energy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Adobe Inc.
Adobe Inc. is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Cummins
Cummins is included because freight, production, and capital spending move with industrial demand.
HCA Healthcare
HCA Healthcare is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Freeport-McMoRan
Freeport-McMoRan is included because construction, manufacturing, and commodity demand move with economic activity.
General Dynamics
General Dynamics is included because freight, production, and capital spending move with industrial demand.
Marriott International
Marriott International is included because household spending and discretionary demand move with the economic cycle.
ServiceNow
ServiceNow is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
BNY Mellon
BNY Mellon is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Williams Companies
Williams Companies is included because fuel demand and commodity balances move with economic activity.
KKR & Co.
KKR & Co. is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Comcast
Comcast is included because advertising, subscription, and consumer activity shift with the economic cycle.
McKesson Corporation
McKesson Corporation is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Intercontinental Exchange
Intercontinental Exchange is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Waste Management
Waste Management is included because freight, production, and capital spending move with industrial demand.
PNC Financial Services
PNC Financial Services is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Johnson Controls
Johnson Controls is included because freight, production, and capital spending move with industrial demand.
Automatic Data Processing
Automatic Data Processing is included because freight, production, and capital spending move with industrial demand.
Elevance Health
Elevance Health is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
U.S. Bancorp
U.S. Bancorp is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Monster Beverage
Monster Beverage is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
United Parcel Service
United Parcel Service is included because freight, production, and capital spending move with industrial demand.
Fortinet
Fortinet is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
American Tower
American Tower is included because tenant demand, financing conditions, and property values move with the macro backdrop.
CSX Corporation
CSX Corporation is included because freight, production, and capital spending move with industrial demand.
Ciena
Ciena is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Airbnb
Airbnb is included because household spending and discretionary demand move with the economic cycle.
Boston Scientific
Boston Scientific is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Northrop Grumman
Northrop Grumman is included because freight, production, and capital spending move with industrial demand.
Mondelez International
Mondelez International is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Cigna
Cigna is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Moody's Corporation
Moody's Corporation is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Marsh McLennan
Marsh McLennan is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Monolithic Power Systems
Monolithic Power Systems is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Simon Property Group
Simon Property Group is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Lumentum
Lumentum is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Emerson Electric
Emerson Electric is included because freight, production, and capital spending move with industrial demand.
Sherwin-Williams
Sherwin-Williams is included because construction, manufacturing, and commodity demand move with economic activity.
O’Reilly Automotive
O’Reilly Automotive is included because household spending and discretionary demand move with the economic cycle.
Apollo Global Management
Apollo Global Management is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Regeneron Pharmaceuticals
Regeneron Pharmaceuticals is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
3M
3M is included because freight, production, and capital spending move with industrial demand.
CRH plc
CRH plc is included because construction, manufacturing, and commodity demand move with economic activity.
NXP Semiconductors
NXP Semiconductors is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Coherent Corp.
Coherent Corp. is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Illinois Tool Works
Illinois Tool Works is included because freight, production, and capital spending move with industrial demand.
Kinder Morgan
Kinder Morgan is included because fuel demand and commodity balances move with economic activity.
American Electric Power
American Electric Power is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Hilton Worldwide
Hilton Worldwide is included because household spending and discretionary demand move with the economic cycle.
Datadog
Datadog is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Comfort Systems USA
Comfort Systems USA is included because freight, production, and capital spending move with industrial demand.
Ecolab
Ecolab is included because construction, manufacturing, and commodity demand move with economic activity.
Robinhood Markets
Robinhood Markets is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Ross Stores
Ross Stores is included because household spending and discretionary demand move with the economic cycle.
Norfolk Southern
Norfolk Southern is included because freight, production, and capital spending move with industrial demand.
Colgate-Palmolive
Colgate-Palmolive is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Royal Caribbean Group
Royal Caribbean Group is included because household spending and discretionary demand move with the economic cycle.
General Motors
General Motors is included because household spending and discretionary demand move with the economic cycle.
Digital Realty
Digital Realty is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Warner Bros. Discovery
Warner Bros. Discovery is included because advertising, subscription, and consumer activity shift with the economic cycle.
DoorDash
DoorDash is included because household spending and discretionary demand move with the economic cycle.
Air Products
Air Products is included because construction, manufacturing, and commodity demand move with economic activity.
Aon plc
Aon plc is included because credit demand, fee activity, and loss expectations move with the economic cycle.
TransDigm Group
TransDigm Group is included because freight, production, and capital spending move with industrial demand.
Cintas
Cintas is included because freight, production, and capital spending move with industrial demand.
Motorola Solutions
Motorola Solutions is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Travelers Companies (The)
Travelers Companies (The) is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Nike, Inc.
Nike, Inc. is included because household spending and discretionary demand move with the economic cycle.
TE Connectivity
TE Connectivity is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Republic Services
Republic Services is included because freight, production, and capital spending move with industrial demand.
Keysight Technologies
Keysight Technologies is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Sempra
Sempra is included because load growth, customer usage, and financing conditions move with the macro backdrop.
United Rentals
United Rentals is included because freight, production, and capital spending move with industrial demand.
Truist Financial
Truist Financial is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Paccar
Paccar is included because freight, production, and capital spending move with industrial demand.
Aflac
Aflac is included because credit demand, fee activity, and loss expectations move with the economic cycle.
W. W. Grainger
W. W. Grainger is included because freight, production, and capital spending move with industrial demand.
Realty Income
Realty Income is included because tenant demand, financing conditions, and property values move with the macro backdrop.
L3Harris
L3Harris is included because freight, production, and capital spending move with industrial demand.
AutoZone
AutoZone is included because household spending and discretionary demand move with the economic cycle.
Occidental Petroleum
Occidental Petroleum is included because fuel demand and commodity balances move with economic activity.
Diamondback Energy
Diamondback Energy is included because fuel demand and commodity balances move with economic activity.
Oneok
Oneok is included because fuel demand and commodity balances move with economic activity.
Allstate
Allstate is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Dominion Energy
Dominion Energy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Target Corporation
Target Corporation is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Corteva
Corteva is included because construction, manufacturing, and commodity demand move with economic activity.
Targa Resources
Targa Resources is included because fuel demand and commodity balances move with economic activity.
Coinbase
Coinbase is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Public Storage
Public Storage is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Carrier Global
Carrier Global is included because freight, production, and capital spending move with industrial demand.
Devon Energy
Devon Energy is included because fuel demand and commodity balances move with economic activity.
Ametek
Ametek is included because freight, production, and capital spending move with industrial demand.
Microchip Technology
Microchip Technology is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Carvana
Carvana is included because household spending and discretionary demand move with the economic cycle.
Nucor
Nucor is included because construction, manufacturing, and commodity demand move with economic activity.
Entergy
Entergy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Cencora
Cencora is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co. is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Rockwell Automation
Rockwell Automation is included because freight, production, and capital spending move with industrial demand.
Nasdaq, Inc.
Nasdaq, Inc. is included because credit demand, fee activity, and loss expectations move with the economic cycle.
MetLife
MetLife is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Electronic Arts
Electronic Arts is included because advertising, subscription, and consumer activity shift with the economic cycle.
Xcel Energy
Xcel Energy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Fastenal
Fastenal is included because freight, production, and capital spending move with industrial demand.
Autodesk
Autodesk is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Vistra Corp.
Vistra Corp. is included because load growth, customer usage, and financing conditions move with the macro backdrop.
eBay Inc.
eBay Inc. is included because household spending and discretionary demand move with the economic cycle.
Delta Air Lines
Delta Air Lines is included because freight, production, and capital spending move with industrial demand.
Exelon
Exelon is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Edwards Lifesciences
Edwards Lifesciences is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Garmin
Garmin is included because household spending and discretionary demand move with the economic cycle.
Wabtec
Wabtec is included because freight, production, and capital spending move with industrial demand.
Fifth Third Bancorp
Fifth Third Bancorp is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Ventas
Ventas is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Block, Inc.
Block, Inc. is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Cardinal Health
Cardinal Health is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Ameriprise Financial
Ameriprise Financial is included because credit demand, fee activity, and loss expectations move with the economic cycle.
MSCI Inc.
MSCI Inc. is included because credit demand, fee activity, and loss expectations move with the economic cycle.
CBRE Group
CBRE Group is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Yum! Brands
Yum! Brands is included because household spending and discretionary demand move with the economic cycle.
Idexx Laboratories
Idexx Laboratories is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Chipotle Mexican Grill
Chipotle Mexican Grill is included because household spending and discretionary demand move with the economic cycle.
Take-Two Interactive
Take-Two Interactive is included because advertising, subscription, and consumer activity shift with the economic cycle.
State Street Corporation
State Street Corporation is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Emcor
Emcor is included because freight, production, and capital spending move with industrial demand.
Kroger
Kroger is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
ON Semiconductor
ON Semiconductor is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Becton Dickinson
Becton Dickinson is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
American International Group
American International Group is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Hewlett Packard Enterprise
Hewlett Packard Enterprise is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
PayPal
PayPal is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Crown Castle
Crown Castle is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Old Dominion
Old Dominion is included because freight, production, and capital spending move with industrial demand.
Keurig Dr Pepper
Keurig Dr Pepper is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Consolidated Edison
Consolidated Edison is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Public Service Enterprise Group
Public Service Enterprise Group is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Hershey Company (The)
Hershey Company (The) is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Archer Daniels Midland
Archer Daniels Midland is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Live Nation Entertainment
Live Nation Entertainment is included because advertising, subscription, and consumer activity shift with the economic cycle.
Interactive Brokers
Interactive Brokers is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Iron Mountain
Iron Mountain is included because tenant demand, financing conditions, and property values move with the macro backdrop.
EchoStar
EchoStar is included because advertising, subscription, and consumer activity shift with the economic cycle.
Cboe Global Markets
Cboe Global Markets is included because credit demand, fee activity, and loss expectations move with the economic cycle.
PG&E Corporation
PG&E Corporation is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Jabil
Jabil is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
WEC Energy Group
WEC Energy Group is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Hartford (The)
Hartford (The) is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Vulcan Materials Company
Vulcan Materials Company is included because construction, manufacturing, and commodity demand move with economic activity.
Prudential Financial
Prudential Financial is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Humana
Humana is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Qnity Electronics
Qnity Electronics is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Sysco
Sysco is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Martin Marietta Materials
Martin Marietta Materials is included because construction, manufacturing, and commodity demand move with economic activity.
EQT Corporation
EQT Corporation is included because fuel demand and commodity balances move with economic activity.
Waters Corporation
Waters Corporation is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Carnival Corporation
Carnival Corporation is included because household spending and discretionary demand move with the economic cycle.
Las Vegas Sands
Las Vegas Sands is included because household spending and discretionary demand move with the economic cycle.
Paychex
Paychex is included because freight, production, and capital spending move with industrial demand.
Steel Dynamics
Steel Dynamics is included because construction, manufacturing, and commodity demand move with economic activity.
Kenvue
Kenvue is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Arch Capital Group
Arch Capital Group is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Roper Technologies
Roper Technologies is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Kimberly-Clark
Kimberly-Clark is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Zoetis
Zoetis is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Copart
Copart is included because freight, production, and capital spending move with industrial demand.
Casey's
Casey's is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Huntington Bancshares
Huntington Bancshares is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Agilent Technologies
Agilent Technologies is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Axon Enterprise
Axon Enterprise is included because freight, production, and capital spending move with industrial demand.
Vici Properties
Vici Properties is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Estée Lauder Companies (The)
Estée Lauder Companies (The) is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Extra Space Storage
Extra Space Storage is included because tenant demand, financing conditions, and property values move with the macro backdrop.
M&T Bank
M&T Bank is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Atmos Energy
Atmos Energy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Ameren
Ameren is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Northern Trust
Northern Trust is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Raymond James Financial
Raymond James Financial is included because credit demand, fee activity, and loss expectations move with the economic cycle.
DTE Energy
DTE Energy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Workday, Inc.
Workday, Inc. is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
ResMed
ResMed is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Biogen
Biogen is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Teledyne Technologies
Teledyne Technologies is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Centene Corporation
Centene Corporation is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Fiserv
Fiserv is included because credit demand, fee activity, and loss expectations move with the economic cycle.
IQVIA
IQVIA is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Dover Corporation
Dover Corporation is included because freight, production, and capital spending move with industrial demand.
NRG Energy
NRG Energy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Ingersoll Rand
Ingersoll Rand is included because freight, production, and capital spending move with industrial demand.
Otis Worldwide
Otis Worldwide is included because freight, production, and capital spending move with industrial demand.
Dow Inc.
Dow Inc. is included because construction, manufacturing, and commodity demand move with economic activity.
GE HealthCare
GE HealthCare is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Fox Corporation
Fox Corporation is included because advertising, subscription, and consumer activity shift with the economic cycle.
Ares Management
Ares Management is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Kraft Heinz
Kraft Heinz is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Texas Pacific Land Corporation
Texas Pacific Land Corporation is included because fuel demand and commodity balances move with economic activity.
CenterPoint Energy
CenterPoint Energy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Edison International
Edison International is included because load growth, customer usage, and financing conditions move with the macro backdrop.
PPL Corporation
PPL Corporation is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Tapestry, Inc.
Tapestry, Inc. is included because household spending and discretionary demand move with the economic cycle.
Expedia Group
Expedia Group is included because household spending and discretionary demand move with the economic cycle.
Xylem Inc.
Xylem Inc. is included because freight, production, and capital spending move with industrial demand.
Citizens Financial Group
Citizens Financial Group is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Veeva Systems
Veeva Systems is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
AvalonBay Communities
AvalonBay Communities is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Verisign
Verisign is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
FirstEnergy
FirstEnergy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Eversource Energy
Eversource Energy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Hubbell Incorporated
Hubbell Incorporated is included because freight, production, and capital spending move with industrial demand.
Rollins, Inc.
Rollins, Inc. is included because freight, production, and capital spending move with industrial demand.
Cincinnati Financial
Cincinnati Financial is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Fair Isaac
Fair Isaac is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
American Water Works
American Water Works is included because load growth, customer usage, and financing conditions move with the macro backdrop.
W. R. Berkley Corporation
W. R. Berkley Corporation is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Equity Residential
Equity Residential is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Constellation Brands
Constellation Brands is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
First Solar
First Solar is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Bunge Global
Bunge Global is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Albemarle Corporation
Albemarle Corporation is included because construction, manufacturing, and commodity demand move with economic activity.
LyondellBasell
LyondellBasell is included because construction, manufacturing, and commodity demand move with economic activity.
Synchrony Financial
Synchrony Financial is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Tyson Foods
Tyson Foods is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Willis Towers Watson
Willis Towers Watson is included because credit demand, fee activity, and loss expectations move with the economic cycle.
PPG Industries
PPG Industries is included because construction, manufacturing, and commodity demand move with economic activity.
Dexcom
Dexcom is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Regions Financial Corporation
Regions Financial Corporation is included because credit demand, fee activity, and loss expectations move with the economic cycle.
KeyCorp
KeyCorp is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Expand Energy
Expand Energy is included because fuel demand and commodity balances move with economic activity.
NetApp
NetApp is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Darden Restaurants
Darden Restaurants is included because household spending and discretionary demand move with the economic cycle.
Dollar General
Dollar General is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
SBA Communications
SBA Communications is included because tenant demand, financing conditions, and property values move with the macro backdrop.
CMS Energy
CMS Energy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
NiSource
NiSource is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Cognizant
Cognizant is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
J.B. Hunt
J.B. Hunt is included because freight, production, and capital spending move with industrial demand.
Fidelity National Information Services
Fidelity National Information Services is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Church & Dwight
Church & Dwight is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Corpay
Corpay is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Ulta Beauty
Ulta Beauty is included because household spending and discretionary demand move with the economic cycle.
West Pharmaceutical Services
West Pharmaceutical Services is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
T. Rowe Price
T. Rowe Price is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Verisk Analytics
Verisk Analytics is included because freight, production, and capital spending move with industrial demand.
Principal Financial Group
Principal Financial Group is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Akamai Technologies
Akamai Technologies is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Omnicom Group
Omnicom Group is included because advertising, subscription, and consumer activity shift with the economic cycle.
Mettler Toledo
Mettler Toledo is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Loews Corporation
Loews Corporation is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Veralto
Veralto is included because freight, production, and capital spending move with industrial demand.
Smurfit Westrock
Smurfit Westrock is included because construction, manufacturing, and commodity demand move with economic activity.
Moderna
Moderna is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Labcorp
Labcorp is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Quest Diagnostics
Quest Diagnostics is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Charter Communications
Charter Communications is included because advertising, subscription, and consumer activity shift with the economic cycle.
DuPont
DuPont is included because construction, manufacturing, and commodity demand move with economic activity.
Steris
Steris is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Williams-Sonoma, Inc.
Williams-Sonoma, Inc. is included because household spending and discretionary demand move with the economic cycle.
Ralph Lauren Corporation
Ralph Lauren Corporation is included because household spending and discretionary demand move with the economic cycle.
Expeditors International
Expeditors International is included because freight, production, and capital spending move with industrial demand.
Equifax
Equifax is included because freight, production, and capital spending move with industrial demand.
International Flavors & Fragrances
International Flavors & Fragrances is included because construction, manufacturing, and commodity demand move with economic activity.
CF Industries
CF Industries is included because construction, manufacturing, and commodity demand move with economic activity.
F5, Inc.
F5, Inc. is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Viatris
Viatris is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Incyte
Incyte is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
C.H. Robinson
C.H. Robinson is included because freight, production, and capital spending move with industrial demand.
Supermicro
Supermicro is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Packaging Corporation of America
Packaging Corporation of America is included because construction, manufacturing, and commodity demand move with economic activity.
HP Inc.
HP Inc. is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Evergy
Evergy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Snap-on
Snap-on is included because freight, production, and capital spending move with industrial demand.
Brown & Brown
Brown & Brown is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Global Payments
Global Payments is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Alliant Energy
Alliant Energy is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Fortive
Fortive is included because freight, production, and capital spending move with industrial demand.
General Mills
General Mills is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Amcor
Amcor is included because construction, manufacturing, and commodity demand move with economic activity.
Lennox International
Lennox International is included because freight, production, and capital spending move with industrial demand.
International Paper
International Paper is included because construction, manufacturing, and commodity demand move with economic activity.
Dollar Tree
Dollar Tree is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Broadridge Financial Solutions
Broadridge Financial Solutions is included because freight, production, and capital spending move with industrial demand.
Essex Property Trust
Essex Property Trust is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Weyerhaeuser
Weyerhaeuser is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Invitation Homes
Invitation Homes is included because tenant demand, financing conditions, and property values move with the macro backdrop.
PTC Inc.
PTC Inc. is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Franklin Resources
Franklin Resources is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Leidos
Leidos is included because freight, production, and capital spending move with industrial demand.
Zimmer Biomet
Zimmer Biomet is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Tractor Supply
Tractor Supply is included because household spending and discretionary demand move with the economic cycle.
Kimco Realty
Kimco Realty is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Generac
Generac is included because freight, production, and capital spending move with industrial demand.
IDEX Corporation
IDEX Corporation is included because freight, production, and capital spending move with industrial demand.
Textron
Textron is included because freight, production, and capital spending move with industrial demand.
Nordson Corporation
Nordson Corporation is included because freight, production, and capital spending move with industrial demand.
Ball Corporation
Ball Corporation is included because construction, manufacturing, and commodity demand move with economic activity.
Mid-America Apartment Communities
Mid-America Apartment Communities is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Host Hotels & Resorts
Host Hotels & Resorts is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Lululemon Athletica
Lululemon Athletica is included because household spending and discretionary demand move with the economic cycle.
News Corp
News Corp is included because advertising, subscription, and consumer activity shift with the economic cycle.
Masco
Masco is included because freight, production, and capital spending move with industrial demand.
Regency Centers
Regency Centers is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Genuine Parts Company
Genuine Parts Company is included because household spending and discretionary demand move with the economic cycle.
Everest Group
Everest Group is included because credit demand, fee activity, and loss expectations move with the economic cycle.
TKO Group Holdings
TKO Group Holdings is included because advertising, subscription, and consumer activity shift with the economic cycle.
Healthpeak Properties
Healthpeak Properties is included because tenant demand, financing conditions, and property values move with the macro backdrop.
CoStar Group
CoStar Group is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Jacobs Solutions
Jacobs Solutions is included because freight, production, and capital spending move with industrial demand.
Deckers Brands
Deckers Brands is included because household spending and discretionary demand move with the economic cycle.
Hasbro
Hasbro is included because household spending and discretionary demand move with the economic cycle.
Gen Digital
Gen Digital is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Trimble Inc.
Trimble Inc. is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Huntington Ingalls Industries
Huntington Ingalls Industries is included because freight, production, and capital spending move with industrial demand.
APA Corporation
APA Corporation is included because fuel demand and commodity balances move with economic activity.
Tyler Technologies
Tyler Technologies is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Solventum
Solventum is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
DaVita
DaVita is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
CDW Corporation
CDW Corporation is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
McCormick & Company
McCormick & Company is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Invesco
Invesco is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Stanley Black & Decker
Stanley Black & Decker is included because freight, production, and capital spending move with industrial demand.
Avery Dennison
Avery Dennison is included because construction, manufacturing, and commodity demand move with economic activity.
Brown–Forman
Brown–Forman is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Pentair
Pentair is included because freight, production, and capital spending move with industrial demand.
UDR, Inc.
UDR, Inc. is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Pinnacle West Capital
Pinnacle West Capital is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Assurant
Assurant is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Best Buy
Best Buy is included because household spending and discretionary demand move with the economic cycle.
Globe Life
Globe Life is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Paramount Skydance Corporation
Paramount Skydance Corporation is included because advertising, subscription, and consumer activity shift with the economic cycle.
Zebra Technologies
Zebra Technologies is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Align Technology
Align Technology is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Cooper Companies (The)
Cooper Companies (The) is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Aptiv
Aptiv is included because household spending and discretionary demand move with the economic cycle.
GoDaddy
GoDaddy is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Erie Indemnity
Erie Indemnity is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Allegion
Allegion is included because freight, production, and capital spending move with industrial demand.
Hormel Foods
Hormel Foods is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Revvity
Revvity is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Insulet Corporation
Insulet Corporation is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Clorox
Clorox is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
J.M. Smucker Company (The)
J.M. Smucker Company (The) is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Camden Property Trust
Camden Property Trust is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Domino's
Domino's is included because household spending and discretionary demand move with the economic cycle.
AES Corporation
AES Corporation is included because load growth, customer usage, and financing conditions move with the macro backdrop.
Jack Henry & Associates
Jack Henry & Associates is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Universal Health Services
Universal Health Services is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Gartner
Gartner is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Wynn Resorts
Wynn Resorts is included because household spending and discretionary demand move with the economic cycle.
Federal Realty Investment Trust
Federal Realty Investment Trust is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Skyworks Solutions
Skyworks Solutions is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.
Trade Desk (The)
Trade Desk (The) is included because advertising, subscription, and consumer activity shift with the economic cycle.
MGM Resorts
MGM Resorts is included because household spending and discretionary demand move with the economic cycle.
BXP, Inc.
BXP, Inc. is included because tenant demand, financing conditions, and property values move with the macro backdrop.
Baxter International
Baxter International is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Charles River Laboratories
Charles River Laboratories is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Alexandria Real Estate Equities
Alexandria Real Estate Equities is included because tenant demand, financing conditions, and property values move with the macro backdrop.
A. O. Smith
A. O. Smith is included because freight, production, and capital spending move with industrial demand.
Henry Schein
Henry Schein is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
FactSet
FactSet is included because credit demand, fee activity, and loss expectations move with the economic cycle.
Molson Coors Beverage Company
Molson Coors Beverage Company is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Bio-Techne
Bio-Techne is included because procedure volumes, payer budgets, and funding conditions can shift with the macro backdrop.
Norwegian Cruise Line Holdings
Norwegian Cruise Line Holdings is included because household spending and discretionary demand move with the economic cycle.
Mosaic Company (The)
Mosaic Company (The) is included because construction, manufacturing, and commodity demand move with economic activity.
Conagra Brands
Conagra Brands is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
Pool Corporation
Pool Corporation is included because household spending and discretionary demand move with the economic cycle.
Campbell's Company (The)
Campbell's Company (The) is included because volume mix, pricing power, and household budget pressure move with the economic cycle.
EPAM Systems
EPAM Systems is included because hardware, software, and cloud demand are sensitive to enterprise and consumer spending cycles.