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%.

Citi has an optimistic view on norwegian cruise and royal caribbean cruise stocks. In response to this news, $Norwegian Cruise (NCLH.US)$ they surged nearly 8%, $Carnival (CCL.US)$ $Royal Caribbean (RCL.US)$ rose nearly 4%, $Viking Holdings (VIK.US)$and $Lindblad Expeditions (LIND.US)$ Both are trending higher.

Since the beginning of the year, norwegian cruise has risen by 12% cumulatively, while royal caribbean has surged over 47%.

Citi upgraded Norwegian Cruise from 'Neutral' to 'Buy'. Citi pointed out that the stock has great potential for profit growth and multiple expansion.

Citi analyst James Hardiman stated that Norwegian Cruise's strategic shift leads the firm to believe that the significant pricing opportunities will not be offset by out-of-control costs. Hardiman estimates that the three-year compound annual growth rate of earnings per share (eps) for this cruise operator is 23%. If Norwegian Cruise can maintain a 2.5% revenue/cost gap target, the earnings per share growth rate is expected to reach 30%.

Citi also added Royal Caribbean to the positive catalyst watchlist, expecting the upcoming financial report to include long-term strategic updates.

Editor / jayden