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 National Hurricane Center of the United States, Hurricane Belial has intensified into a Category 5 hurricane. It is expected to approach major hurricane strength when it enters the central Caribbean and passes near Jamaica on Wednesday and near the Cayman Islands on Thursday.
According to the National Hurricane Center of the United States, Hurricane Belial has intensified into a Category 5 hurricane. It is expected to approach major hurricane strength when it enters the central Caribbean and passes near Jamaica on Wednesday and near the Cayman Islands on Thursday. U.S. stock market investors are closely watching the development of the situation.
In its latest announcement, the National Hurricane Center in the United States stated that Beler has become the strongest storm formed in the Atlantic Ocean at this time of year and is expected to continue moving rapidly northwestward over the next few days, then turn west on Thursday.
The National Hurricane Center in the United States added that the hurricane force winds extend outward up to 40 miles (65 kilometers) from the center, and tropical-storm-force winds extend outward up to 125 miles (205 kilometers).
It is understood that Category 5 is the highest level of hurricane wind speed level, with no upper limit. As a result of the impact of Belial, U.S. tourism-related stocks came under pressure on Monday, with cruise shares Norwegian Cruise falling more than 5% and about 2%. In addition, airlines such as Southwest Airlines, Delta Air Lines and United Airlines also fell to varying degrees. Hurricane typically causes various disasters and losses, and insurance companies such as Chubb Ltd, Allstate, American International Group and The Travelers Companies have also attracted investors' attention. The main oil and gas companies operating in the Gulf of Mexico include$Carnival (CCL.US)$ and $Norwegian Cruise (NCLH.US)$falling more than 5%,$Royal Caribbean (RCL.US)$ and $Viking Holdings (VIK.US)$about 2%.
In addition, including$Southwest Airlines (LUV.US)$, $American Airlines (AAL.US)$, $Delta Air Lines (DAL.US)$, $United Airlines (UAL.US)$and other airlines also experienced varying degrees of decline.
Hurricanes usually cause various disasters and losses, and insurance companies such as Chubb Ltd, Allstate, American International Group and The Travelers Companies have also attracted investors' attention.$Chubb Ltd (CB.US)$, $Progressive (PGR.US)$, $Allstate (ALL.US)$, $American International Group (AIG.US)$ and $The Travelers Companies (TRV.US)$Insurance companies such as Chubb Ltd, Allstate, American International Group and The Travelers Companies have also attracted investors' attention.
$ING Groep (ING.US)$Analysts also noted in a report that recent reports have shown that record-breaking Hurricane Belial is intensifying and increasing the likelihood of floods and storm surges, which could hit oil operations in the Gulf of Mexico later this week.
Major oil and gas companies doing business in the Gulf of Mexico include$Chevron (CVX.US)$, $Shell (SHEL.US)$, $Exxon Mobil (XOM.US)$ and $BP PLC (BP.US)$.
Editor / jayden