Tech hardware, semiconductors, and capital markets lead US industries while telecom, REITs, and select consumer areas lag.
Leadership is concentrated in technology hardware, semis, and financials, while structural and rate‑sensitive areas like telecom services and parts of real estate and consumer services remain under pr
IMGELD (Date: June 24, 2026 )
Technology Hardware, Storage & Peripherals is the strongest industry in the file, followed by Electronic Equipment, Instruments & Components, Banks, Semiconductors & Semiconductor Equipment, and Capital Markets. Weakness is concentrated in Diversified Consumer Services, Commercial Services & Supplies, Wireless Telecommunication Services, parts of REITs, and selected media and entertainment pockets, which rank at the bottom of the universe.regulatory debates around capital standards continue.
Top 5 Strongest Industries
(Long bias)
Technology Hardware, Storage & Peripherals
Final Score: 95.82
Before: #1 → Now: #1
Why they are strong: A potential new bull market in software and broader tech spending is helping support demand for hardware and related infrastructure as investors reposition toward growth technology.
Key Players: Apple, Dell Technologies, HPElectronic Equipment, Instruments & Components
Final Score: 94.00
Before: #2 → Now: #2
Why they are strong: Robust demand for communications gear and device components is supported by regulatory approval of large spectrum purchases that encourage ongoing network investment.
Key Players: Texas Instruments, TE Connectivity, CorningBanks
Final Score: 83.67
Before: #5 → Now: #3
Why they are strong: Large banks are benefiting from expectations that the Federal Reserve will keep policy relatively tight, with major institutions forecasting another rate hike that sustains attractive net interest margins.
Key Players: JPMorgan Chase, Bank of America, Wells FargoSemiconductors & Semiconductor Equipment
Final Score: 83.45
Before: #4 → Now: #4
Why they are strong: Despite warnings that the red‑hot semiconductor trade could cool and weigh on the broader US stock rally, chips remain central to market leadership and investor focus.
Key Players: NVIDIA, Intel, Advanced Micro DevicesCapital Markets
Final Score: 80.32
Before: #3 → Now: #5
Why they are strong: Capital markets firms continue to benefit from record‑setting equity benchmarks even against a backdrop of geopolitical conflict, as risk appetite and trading volumes stay resilient.
Key Players: Goldman Sachs, Morgan Stanley, Charles Schwab
Get the Industry Heat Map — delivered by email only.
Bottom 5 Weakest Industries
(Short bias)
Commercial Services & Supplies
Final Score: 37.73
Before: #48 → Now: #52
Why they are weak: Services firms tied to industrial and energy activity are feeling squeezed as the recent oil rally has not translated into a commensurate pickup in drilling or related spending.
Key Players: Waste Management, Cintas, Republic ServicesTobacco
Final Score: 47.03
Before: #40 → Now: #53
Why they are weak: Even after a favorable US regulatory shake‑up, Big Tobacco faces structural headwinds from shifting consumer preferences and ongoing policy scrutiny that cap investor enthusiasm.
Key Players: Altria Group, Philip Morris International, British American TobaccoConsumer Finance
Final Score: 48.52
Before: #44 → Now: #54
Why they are weak: Consumer finance providers face heightened credit and underwriting risks as the US‑Iran war feeds through to household borrowing costs and credit conditions.
Key Players: American Express, Capital One Financial, Discover Financial ServicesDiversified Consumer Services
Final Score: 48.79
Before: #46 → Now: #55
Why they are weak: Discretionary consumer services are challenged as higher travel‑related and living costs divide US households into haves and have‑nots, pressuring more price‑sensitive demand segments.
Key Players: Service Corporation International, Bright Horizons Family Solutions, H&R BlockWireless Telecommunication Services
Final Score: 35.89
Before: #55 → Now: #56
Why they are weak: While regulators have approved major spectrum purchases that favor network owners, competitive dynamics and heavy capital requirements continue to pressure wireless service profitability.
Key Players: Verizon Communications, AT&T, T‑Mobile US
Subscribe to get the stocks behind these industries.
Additional Readings
Capital Markets: Record stock indexes persist despite war backdrop (CNBC, 2026-04-16)
Why the stock market is hitting records despite Iran war - CNBCElectric Utilities: Court ruling reduces legal overhang for a major US electric utility (CNBC, 2026-04-11)
Berkshire electric utility’s court win could save it billions - CNBCPharmaceuticals: Intensifying race to commercialize oral weight‑loss drugs (Reuters, 2026-06-11)
Race to launch weight-loss pill heats up as Novo wins UK approval - ReutersSoftware: Investor focus turns to software earnings as a driver of a new bull leg in tech (CNBC, 2026-05-27)
New bull market in software stocks hinges on this report - CNBCConstruction Materials: Large strategic acquisition reshapes North American building materials landscape (Financial Times, 2026-06-21)
Building materials group CRH agrees historic $8.5bn deal for Arcosa - Financial TimesMedia: Auto‑linked media and branding assets gain relevance as new US vehicle brands eye listings (Reuters, 2026-05-11)
Market listing an option for VW’s US Scout brand, CEO tells paper - ReutersFinancial Services: Credit markets watch smaller lenders as a bellwether for broader US credit stress (CNBC, 2026-05-18)
Why a small UK lender has major U.S. credit firms on edge - CNBCHotels, Restaurants & Leisure: Rising travel costs bifurcate the US consumer and shift leisure demand patterns (Reuters, 2026-05-29)
Costlier flights, hotels divide US summer travel into haves and have-nots - ReutersEnergy Equipment & Services: Oilfield services lag as drilling fails to follow crude’s price gains (Reuters, 2026-03-27)
Services firms feel the squeeze as oil rally from Iran war fails to spur drilling - ReutersResidential REITs: A megamerger among large apartment landlords could reshape supply, rents, and investor expectations (CNBC, 2026-05-22)
What the AvalonBay, Equity Residential megamerger means for the apartment industry and rents - CNBCBuilding Products: Large M&A underscores strategic value of US building‑products distribution (Reuters, 2026-04-19)
QXO strikes $17 billion deal to acquire building products distributor and installer TopBuild - ReutersAutomobiles: Expansion of online auto retail into new‑vehicle sales is reshaping how US consumers buy cars (CNBC, 2026-06-16)
Carvana is expanding into new vehicles. The implications could reshape the U.S. automotive retail market - CNBCAerospace & Defense: Strong IPO demand highlights investor appetite for defense‑related names (Reuters, 2026-06-02)
Applied Aerospace & Defense raises $650 million in US IPO - ReutersBanks: Rate‑hike expectations from major banks signal continued support for banking sector margins (Reuters, 2026-06-22)
BofA, Deutsche Bank expect Fed to raise rates in September - ReutersGround Transportation: Competitive pricing from Chinese automakers in export markets illustrates mounting pressure in global transport value chains (Reuters, 2026-05-15)
Chinese automakers gain ground in South Africa as competitive pricing spurs demand - ReutersTobacco: Sector positioning improves after a US FDA shake‑up favors established players (Reuters, 2026-05-28)
Big Tobacco comes out on top after US FDA shake-up - ReutersInsurance: Rising short interest reflects investor concern over life insurers’ exposure to private credit (Reuters, 2026-04-27)
Short sellers’ bets on life insurance stocks soar as private credit concerns grow - ReutersConsumer Finance: Geopolitical conflict feeds through to higher borrowing costs and tighter mortgage standards for US households (CNBC, 2026-05-02)
The U.S.-Iran war is coming for your credit score and mortgage application - CNBCSemiconductors & Semiconductor Equipment: Market participants reassess risks in an over‑crowded semiconductor trade (Reuters, 2026-05-13)
Sizzling semiconductor trade at risk of cooling - and stalling US stocks rally - ReutersCommunications Equipment: Regulatory sign‑off on a major spectrum acquisition underscores ongoing network‑investment cycle (Reuters, 2026-05-14)
FCC approves Verizon’s $1 billion spectrum purchase - ReutersChemicals: Consolidation continues in a challenging chemicals market as producers seek scale and cost synergies (Reuters, 2026-06-16)
Olin to buy Huntsman in a $2.43 billion deal amid challenging chemicals market - ReutersBiotechnology: Policy shifts and China’s rise reshape the global biotech and pharma competitive landscape (CNBC, 2026-04-11)
Trump policies, China’s biotech boom are ending Europe’s pharma powerhouse era - CNBCFood Products: New Chinese purchases of US agricultural products have implications for global food trade flows (Reuters, 2026-05-18)
Explainer: What do China’s new US farm purchases mean for global trade? - Reuters“