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%.
Author: Ma Huomin.
The EU anti-monopoly regulatory agency is preparing to investigate the exclusive use of microsoft cloud technology by OpenAI.
According to reports, the $1.3 billion investment by Microsoft in OpenAI, a generative artificial intelligence (AI) company, will be further scrutinized by the EU's antitrust regulatory agency. The EU antitrust regulatory agency is preparing to investigate the exclusive use of Microsoft cloud technology by OpenAI.
According to reports, European Union antitrust commissioner Margrethe Vestager may announce on Friday that she will ask more questions of Microsoft's competitors and customers to understand the exclusive terms the US company has signed with OpenAI and whether these terms could have a negative impact on competition.
According to the agreement between Microsoft and OpenAI, Azure is the exclusive cloud provider for OpenAI. Sources revealed that the European Union's regulatory agency hopes to conduct further investigations into this matter.
Earlier this year, there were reports that the deal between the two companies would avoid a formal investigation by the European Union. Microsoft invested billions of dollars in the deal to acquire OpenAI technology.
Earlier this month, OpenAI signed an agreement with Oracle to use Oracle's cloud infrastructure and expand the Microsoft Azure AI platform.
The agreement between OpenAI and Microsoft has been scrutinized by regulatory agencies around the world, including the United States and the United Kingdom.
In addition, earlier this week, the European Commission accused Microsoft of violating EU antitrust rules by bundling its Teams video conferencing application with other commercial software. The maximum penalty for violating antitrust laws could reach 10% of the company's global revenue.
Editor/Jeffy