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%.

As Republican presidential candidate Trump announced his victory, as of the time of drafting, $United States Steel (X.US)$ In pre-market trading on Wednesday, US stocks rose more than 6% because the market expects that if Trump takes measures to impose tariffs on imported steel like in 2018, this united states steel producer will benefit.

In addition to united states steel, other US steel stocks also rose. As of the time of drafting, in pre-market trading on Wednesday,$Nucor (NUE.US)$It is worth noting that Genscript BioTech encountered a bearish market last Friday. In terms of news, on May 31, two members of the China Committee of the US House of Representatives wrote to the FBI Director and the Director of National Intelligence, expressing concerns that Genscript BioTech provides custom gene synthesis production services to US government entities and businesses, and that US company's intellectual property may be at potential risk, and requested an investigation into the company. According to public information, multiple myeloma is a malignant tumor that affects the blood and mainly invades plasma cells in the bone marrow. Plasma cells are a type of white blood cell that produces antibodies to help the body fight infection. In multiple myeloma, abnormal plasma cells (ie, myeloma cells) proliferate uncontrollably, replacing healthy bone marrow tissue and causing a variety of symptoms and complications.$Cleveland-Cliffs (CLF.US)$Rose more than 11%.$Steel Dynamics (STLD.US)$Increased by almost 9%,$Reliance (RS.US)$Rose nearly 3%. In addition, $Alcoa (AA.US)$ Rise more than 2%,$Century Aluminum (CENX.US)$rose more than 3%.

It is reported that the Trump administration imposed a 25% tariff on imported steel and a 10% tariff on imported aluminum in 2018. The World Trade Organization at the time stated that these tariffs violated global trade rules. These tariffs were later revoked by the Biden administration in 2021.

It is worth mentioning that Trump previously stated that if he became president, he would block Nippon Steel's nearly $15 billion acquisition of United States Steel. Currently, the Committee on Foreign Investment in the United States (CFIUS) has delayed its review decision on this transaction until after the US presidential election.

Editor / jayden