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%.
Author: Li Junling.

According to Bloomberg, sources revealed that the transition team of the elected president of the usa, Donald Trump, plans to make the federal framework for fully self-driving cars a priority for the Department of Transportation. This move will enable $Tesla (TSLA.US)$ CEO Elon Musk will directly benefit, as he has bet Tesla's future on self-driving technology and ai, and has become an important figure in Trump's inner circle.

It is understood that the Trump team is considering establishing a framework to regulate self-driving cars to overcome existing federal regulations that hinder companies like Tesla who want to deploy cars without steering wheels or pedals. The Trump team is looking for suitable candidates to lead the Department of Transportation and develop a policy framework to regulate self-driving cars.

Although the Department of Transportation can promote the operation of self-driving cars by issuing regulations through the National Highway Traffic Safety Administration (NHTSA), a bipartisan legislation under discussion in Congress will pave the way for the widespread adoption of autonomous vehicles. Two informed sources said that the proposed legislation will establish federal regulations regarding self-driving cars.

One of the transportation secretary candidates being considered by the Trump team is former $Uber Technologies (UBER.US)$executive Emil Michael, who has had discussions with Trump's team and potential staff. In addition, Republican representatives Sam Graves from Missouri and Garrett Graves from Louisiana are also under consideration.

Although these discussions are still in the early stages and policy details are not yet finalized, this trend indicates a significant potential shift in the Trump administration's regulatory stance towards self-driving cars.

Previously, in October, Musk announced plans to mass-produce driverless Tesla robot taxis starting from 2026, but existing US regulations pose significant obstacles to this plan.

He supported federal self-driving regulations in Tesla's third-quarter financial conference call, and stated that he would use any government role to promote the process of allowing self-driving cars to be used nationwide. This statement led to the selling of stocks by competitors Uber Technologies and $Lyft Inc (LYFT.US)$Lyft Inc.

Subsequently, Trump also appointed Musk and entrepreneur Vivek Ramaswamy to lead the new government efficiency department initiative, aimed at 'dismantling government bureaucracies' and reducing expenses and regulations deemed overly burdensome, despite past efforts to enact federal legislation regulating self-driving cars having failed.

Currently, NHTSA allows manufacturers to deploy 2,500 self-driving cars annually under exemptions, yet legislative efforts to increase this number to 100,000 have repeatedly failed.

A few years ago, during Trump's first term, a bill aimed at achieving this goal smoothly passed the House of Representatives, but the measure faced obstacles in the Senate. In its first year in office, the Biden administration attempted to merge this bill with other legislation, but failed due to some manufacturers trying to include language in the bill to prevent consumer lawsuits or class action suits.

Editors/Jeffy, Danial