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%.

$Tesla (TSLA.US)$In the second quarter delivery report, Tesla delivered a scorecard that exceeded market expectations, delivering a total of 443,956 autos, which is higher than the analysts' general prediction of 436,000 autos. According to FactSet data, this is the first time in the past four quarters that it has exceeded expectations, and the magnitude of the excess is also the largest since the fourth quarter of 2021.

Tesla announced it delivered 443,956 autos in Q2, down 4.7 percent from the same period last year, but 1.8 percent higher than FactSet's estimate of 436,000 autos. During this production cycle, Tesla manufactured 410,831 autos. The company stated that 2 percent of total deliveries were influenced by operating lease accounting processes. Q2 deliveries included 422,405 Model 3 and Model Y autos, while the delivery volume of other models was 21,551 autos.

Before Tesla released its delivery data, its stock price experienced a decline, and the market generally worried that its delivery performance might fall short of expectations. Subsequently, negative sentiment further intensified, with China Passenger Car Association data showing that wholesale sales of Tesla Model 3 and Model Y in June fell to 71,007 autos, a 2.2% decrease from May. This led analysts to have continued expectations of volatility in Tesla's upcoming delivery data.

Barclays Bank had lowered its delivery forecast to 415,000 autos, indicating an 11% decrease compared to the same period last year. Royal Bank of Canada Capital Markets also cut its estimate to 410,000 autos, whereas several months ago, the bank's estimate was 533,000 autos. Meanwhile, UBS Group maintained its forecast at 420,000 autos. As a comparison, Tesla delivered 386,810 autos in Q1, while deliveries in Q2 of last year were 466,140 autos. Tesla's highest-ever delivery record in a single quarter was 484,507 autos in Q4 2023.

Before Tesla's highly anticipated autonomous taxi launch event on August 8, the leading company in the electric car industry will release its Q2 financial report on July 23. The market will be especially focused on its autos gross margin performance. It is worth noting that Tesla's recent performance records have shown more instances of underperformance than outperformance in its quarterly reports. In three of the past four quarters, Tesla's stock price has fallen in the week following the release of its financial reports.

Nevertheless, Tesla's stock price soared 9% in Tuesday's trading, benefiting from the positive impact of the upcoming Robotaxi event. The stock price of the electric vehicle manufacturer has risen more than 20% in the past six weeks.

Meanwhile, in the same industry, the stock price of auto manufacturers Lucid Group (LCID.US) rose 3% at the opening, and Ford's stock price also rose 4%, showing the overall optimism of the market for electric vehicle manufacturers.$Lucid Group (LCID.US)$At the beginning of the session, there was a 3% increase, while the stock price of the auto manufacturers also rose by 4%, indicating an overall optimistic attitude of the market towards electric autos.$Rivian Automotive (RIVN.US)$industry

Editor / jayden