July 5, Gelunhui｜The next few trading days will determine whether the stock market this year continues to rise or stagnate. According to data from Bank of America, the first 10 trading days of July have always been the strongest period in the history of the S&P 500 index since 1928. Nevertheless, investors will still be looking for clues from economic and corporate profit data in the coming weeks as to when the Fed might start cutting borrowing costs. Fed Chairman Powell will testify twice a year before Congress on Tuesday. CPI data will be released on Thursday, and JPMorgan and Citigroup will release financial reports on July 12, ushering in the financial reporting season. According to data from Bank of America, after a strong performance in the first half of the election year, the S&P 500 index is more likely to rise in the last six months of this year, with a median return rate of about 5.5% despite a potential increase of 88%. It is worth noting that the Republican National Convention will be held in Milwaukee from July 15 to 18, and traders will closely monitor any potential rhetoric on policy prospects that may impact stock market trends.