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%.
According to the data of China Passenger Car Association, the wholesale sales volume of Tesla Model 3 and Model Y in June dropped to 71,007 vehicles, a decrease of 2.2% compared with May.
$Tesla (TSLA.US)$The shipment volume of Shanghai factory decreased by 24.2% year-on-year. This is the fourth time this year that the company's production has decreased due to the price war in the Chinese market. According to the data of China Passenger Car Association, the wholesale sales volume of Tesla Model 3 and Model Y in June dropped to 71,007 vehicles, a decrease of 2.2% compared with May.
Tesla's Q2 global production and delivery data, closely watched by investors, will be released Tuesday night in the U.S. China is the world's largest electric vehicle market, and as EV sales growth slows, Tesla's production decline in China will increase pressure on Musk's company globally.
Analysts expect Tesla to deliver 439,302 electric vehicles in the second quarter, down 5.8% YoY, marking the second consecutive quarter of decline.
According to preliminary CPCA data, with the gradual implementation of the trade-in subsidy announced in April, China's sales of new energy vehicles are expected to increase by 28% in June 2023 from the same month of the previous year.
It is expected that the total shipments of new energy vehicles in June will reach 970,000, an increase of 8% from the previous month.
$BYD Company Limited (002594.SZ)$/$BYD COMPANY (01211.HK)$Leading the market with the record-breaking sales of 340,211 passenger vehicles. Idean delivered 47,774 vehicles, mainly due to the strong growth of its recently launched extended-range electric five-seat L6 model.
$NIO Inc (NIO.US)$/$NIO-SW (09866.HK)$ and $GEELY AUTO (00175.HK)$[Tesla's] sub-brand$ZEEKR (ZK.US)$The brand also achieved a historical high, with monthly sales exceeding 20,000 vehicles.
In April this year, China announced a one-off subsidy of up to RMB 10,000 for consumers who trade in and buy new models that meet certain emission standards, while local authorities have also introduced additional incentive measures. CPCA said that this has stimulated consumers' willingness to buy new cars.
Editor / jayden