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%.

$PepsiCo (PEP.US)$ Pepsico released the third-quarter financial report before the market opened on Tuesday Eastern Time. The data shows that in Q3, revenue decreased by 0.6% year-on-year to $23.32 billion, below the market's expectation of $23.76 billion. Adjusted earnings per share increased by 5% year-on-year to $2.31, exceeding the market's expectation of $2.29. Q3 net income attributable to shareholders was $2.93 billion, lower than the $3.09 billion in the same period last year.

Due to consumers holding back, resistance in the Middle East, and large-scale product recalls affecting the company's food and beverage sales, Pepsico has lowered its revenue forecast for the year. The company had already reported sales below expectations for two consecutive quarters. The company expects full-year organic revenue to grow by 1-3%, lower than the previous 4% target. Most departments saw a decline in sales in the third quarter, resulting in organic revenue growth of 1.3%, below analysts' expectations. Calculated at fixed exchange rates, Pepsico still expects the company's profit to grow by at least 8% this year.

Pepsico, which produces Lay's potato chips and Lipton tea, is facing difficulties due to overall economic price increases leading consumers to control spending or switch to cheaper own-brand products. The company stated that it expects inflation to ease somewhat but consumers will still "continue to focus on value".

Pepsico's CEO Ramón Laguarta stated in a declaration: "Pepsico will focus on strict cost control to better adapt to the current low-growth environment."

He also mentioned that the ongoing boycotts in the Middle East continue to affect American brands, with business interruptions exacerbated by geopolitical tensions in certain international markets. Sales of food and beverages in Latin America, Africa, the Middle East, and South Asia have declined, but Pepsico still sees a slight increase in sales in Europe and the Asia-Pacific region.

Pepsico's snack and beverage business declined in the third quarter. Sales in the food and beverage sector decreased by 2%, with company executives stating that consumers at various income levels are changing their spending behavior.

The company continues to suffer setbacks related to the Quaker Oats recall at the end of last year. Quaker Foods North America saw the largest sales decline at 13%. In December last year, the company was first recalled due to potential salmonella contamination, and the recall scope was expanded in January of this year. In June of this year, Pepsi officially closed a factory related to the recall event, despite production being halted. Laguarta and Chief Financial Officer Jamie Caulfield stated that the consequences of the recall are gradually being mitigated.

Frito-Lay North America's sales decreased by 1.5%. The business has been striving to provide more value to consumers and enhance the convenience of purchasing snacks in-store, including Cheetos, SunChips, and Stacy's pita chips. Although the department's sales are still growing, the broader category growth has slowed compared to historical performance.

Company executives stated in their remarks: "After outperforming the packaged foods category in the past few years, savory snacks have not performed well so far this year."

Furthermore, Pepsi's North America beverage business saw a 3% decrease in sales. Brands like Gatorade and Pepsi saw an increase in revenue this quarter.

As of the time of publication, the stock fell by 0.12% in pre-market trading. As of the close on Monday, it has fallen by 2% year-to-date, in comparison, $S&P 500 Index (.SPX.US)$ it has increased by 20% during the same period.