Source: Zhitong Finance "Since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%)." With the rebound of the stock market, the old adage "Sell in May and Go Away" seems to have been a bad advice once again. Last month, the S&P 500 index rose 4.8%, the best May performance since 2009. The NASDAQ 100 index rose nearly 6.2%, and the NASDAQ Composite Index rose 6.9%. Goldman Sachs FICC & Equities Trading Division said: "History doesn't really support this saying. Don't sell, leave the market (go on vacation), and enjoy the good times." The rising trend is still to be continued? If history is any guide, it may indicate that the rise of the stock market is not over yet. Looking ahead to the rest of 2024, Scott Rubner, Managing Director of the Goldman Sachs Global Markets Division and tactical expert, pointed out the following historical background for investors. Rubner stated that the S&P 500 index has risen 10.7% year-to-date, and since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%). "Since 1950, the median return of the last 7 months of each year (June 1 to December 31) is 5.4%. In the aforementioned 21 cases, the average performance of the last 7 months increased to 8.1%." Rubner added. Rubner also pointed out that the NASDAQ index has risen for 16 consecutive Julys, with an average return of about 4.64%.
May,$Tesla (TSLA.US)$For the third time this year, the delivery volume of the Shanghai factory has declined year-on-year, which is in sharp contrast to the strong growth of its competitors. This further demonstrates the fierce competition for customers in China.
On Tuesday, preliminary data from the China Passenger Car Association showed that Tesla's Shanghai Gigafactory delivered 72,573 vehicles last month, a YoY decrease of 6.6% but an MoM increase of 16%.
It is estimated that the wholesale sales of new energy passenger vehicle manufacturers in China reached 910,000 vehicles in May, an increase of 35% YoY, indicating that price discounts by electric vehicle manufacturers and government subsidies continue to support demand.
Although Tesla is struggling to maintain its growth momentum in its largest overseas market, China, sales of domestic auto manufacturers are skyrocketing. China's best-selling brand, BYD Company Limited, sold 330,488 passenger vehicles in May, a YoY increase of 38%. Recent data also showed that xpeng, li auto inc, and li auto inc all achieved good sales results in May.$BYD Company Limited (002594.SZ)$/$BYD COMPANY (01211.HK)$sold 330,488 passenger vehicles in May, a YoY increase of 38%. Recent data also showed that$NIO Inc (NIO.US)$/$NIO-SW (09866.HK)$, $XPeng (XPEV.US)$/$XPENG-W (09868.HK)$ and $LI AUTO-W (02015.HK)$/$LI AUTO-W (02015.HK)$all achieved good sales results in May.
Currently, the competition in China's electric vehicle industry remains intense, and automakers have to offer discounts and quickly launch new models to attract consumers. Tesla's latest new model, the Cybertruck, has not yet been launched in China, and the company's best-selling model is still the Model Y, first launched in 2019.
Editor / jayden