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%.

$Uber Technologies (UBER.US)$and $Lyft Inc (LYFT.US)$ Some drivers have stated that the self-driving cars operating in the market are reducing their income. Interviewed drivers have said that self-driving cars are flooding into the already competitive local market, taking money away from human drivers.

Phoenix uber technologies driver Jason D, interviewed, mentioned that in recent years, earning money through uber has become increasingly difficult due to intensified competition with other drivers, lower fares, reduced passenger tips, and rising operating costs. Now, the introduction of Waymo One robot taxis has exacerbated this issue.

Several companies are competing for a share of the USA self-driving taxi market. However, Alphabet's (GOOGL.US) self-driving taxi service Waymo One announced in August this year that it provides over 0.1 million paid services per week in Los Angeles, San Francisco, and Phoenix. Waymo One also plans to expand to Atlanta and Austin early next year and will be promoted through the uber app. Although the self-driving taxi industry may slow down due to regulatory barriers and safety issues, taxi experts have previously stated that in the coming years, increasing adoption may harm the income of uber technologies and Lyft drivers. Some drivers have reported that this situation has already occurred.

Of course, it is currently unclear how much of an impact self-driving taxis like Waymo One have on drivers' income. Carl Benedikt Frey, AI professor at the Oxford Internet Institute, previously stated that there is almost no evidence so far that these vehicles have had a significant impact on uber technologies and Lyft drivers' income. But he added that with more and more self-driving taxis on the roads, fares will decrease, affecting drivers' income.

Frey said, "As this technology becomes better and cheaper, drivers will feel it in their wallets." "We have seen similar situations in the past: when uber first appeared, it reduced the income of traditional taxi drivers by about 10%."

Waymo and uber technologies did not respond to requests for comment. In February this year, a spokesperson for uber told foreign media that the company's drivers' income in Phoenix and Las Vegas has not been significantly affected, as uber had partnerships with self-driving cars in these two cities at that time.

A Lyft spokesperson did not respond to questions about the potential impact of self-driving taxis on online car-hailing drivers, but stated that the company's goal is to establish a mixed network consisting of human drivers and self-driving autos. Lyft is also partnering with Mobileye to introduce self-driving autos on the Lyft network.

John, an Uber and Lyft driver in Phoenix, believes that Waymo One's siasun robot&automation taxis have harmed his income. He sometimes asks passengers about their experiences riding in self-driving cars to better understand his competitors.

He mentioned that Waymo One's self-driving autos are sometimes cheaper than Uber and Lyft, which he thinks may deter passengers from using traditional ride-hailing services.

However, comparing the costs of Waymo One with Uber or Lyft is challenging as prices vary due to market conditions, trip distance, potential passenger promotions, and whether customers tip the drivers.

Restricting where robot taxis can operate may help limit the impact on online car-hailing drivers, providing relief to human drivers.

Brad, a full-time Uber driver in Los Angeles, believes that Waymo One's siasun robot&automation taxis do not pose a significant threat in the city as they mainly offer short trips, which are not very lucrative. He added that the most profitable trips are often airport travels, especially when picking up passengers from terminals, a service not allowed for robot taxis at airports. Airport travel for Waymo One in Los Angeles and San Francisco is still restricted but available in Phoenix.

Nicole Moore, Chair of Rideshare Drivers United and a part-time Lyft driver, previously mentioned that airport trips are crucial for many drivers' income. She expressed concerns about the competition from robot taxis for drivers.

A key factor for the success of robot taxis may be whether passengers feel comfortable without human drivers. Jason mentioned that in Phoenix, robot taxis are sometimes risky on the roads. He said, "They often force me out of lanes. I've seen them signal left turns before suddenly signaling right turns."

In June this year, Waymo One recalled 672 self-driving rental cars after one of them hit a power pole in Phoenix. The company stated that there were no passengers on board.

Jason said that some passengers he talked to are satisfied with self-driving cars, and even believe they may be safer than human-driven cars. However, he is firmly against ride-sharing with self-driving cars, as he believes his income has indeed been affected.

Editor / jayden