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%.

Wedbush, the Wall Street investment bank, said,$Microsoft (MSFT.US)$,$Alphabet-A (GOOGL.US)$,$Amazon (AMZN.US)$,$Palantir (PLTR.US)$And.$Meta Platforms (META.US)$are expected to shine in the second quarter earnings season.

Analyst Dan Ives stated in an investor report, "We believe the 2Q results will be a key positive catalyst for the tech sector with expectations for strong upward momentum in the back half of the year following a robust 24% surge in the sector during the first half of the year as the broader tech growth story dominated by software, cyber security, digital advertising, and semi-conductor products remains front and center stage."

The analyst added that growth and profit should accelerate based on what he called an "AI revolution," especially compared to Wall Street expectations. He said, "In short, our global tech field checks indicate cloud deployments and enterprise AI spending trends continue to meaningfully outperform Wall Street's expectations, which is a positive data point for the tech titans."

In addition to the aforementioned tech giants, Wedbush is bullish on several cybersecurity companies, including$Zscaler (ZS.US)$,$Palo Alto Networks (PANW.US)$,$CrowdStrike (CRWD.US)$,$CyberArk (CYBR.US)$,$Check Point Software (CHKP.US)$,$Tenable Holdings (TENB.US)$.

Editor / jayden