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 news from Zhitong Finance APP, after the Swiss pharmaceutical giant $ROCHE HOLDING AG (RHHBY.US)$announced positive results from its clinical trials of oral weight loss drugs, $Eli Lilly and Co (LLY.US)$with$Novo-Nordisk A/S (NVO.US)$the stock price fell on Wednesday.
Roche announced on Wednesday that the second candidate drug acquired from Carmot Therapeutics has shown positive results, further intensifying competition in the weight loss drug market.
As of the close of trading on Wednesday, Roche rose by 7.53%, the manufacturer of Wegovy, Novo Nordisk, fell by 3.87%, the manufacturer of Zepbound, Eli Lilly, fell by 3.82%, and the new weight loss drug $Viking Therapeutics (VKTX.US)$fell by 12.56%.
Shares of Denmark's biotechnology company Zealand Pharma fell 8.4%, as the company is also developing its own obesity treatment method.
Roche stated that in a Phase 1 trial, the experimental tablet CT-996 taken once daily reduced the average weight of obese patients without type 2 diabetes by 6.1% in four weeks.
Roche's chief medical officer, Levi Garraway, said, "We are pleased to see clinically meaningful weight loss in patients receiving CT-996 therapy and hope it may ultimately help patients manage long-term weight and glucose control".
At a time when competition in the rapidly growing weight loss drug industry is intensifying, Roche's oral weight loss drug may provide another attractive option for patients who do not like injections.
In January of this year, Roche completed its acquisition of weight loss drug developer Carmot Therapeutics. In May, the company announced early research data on another weight loss drug, CT-388.
However, Roche CEO Teresa Graham said in December last year that it could take several years for oral weight loss drugs to become widely used.
Editor / jayden