- As of May 29th, 2024 and today being the last trading day of the month, the S&P 500 is up 4.6%, enough to qualify for the sixth-best May since 1950. The rebound back to record highs has also pared April’s 4.2% drop. Perhaps April showers bring May flowers is a better market analogy than “Sell in May and Go Away”.
- For the remainder of the year, the S&P 500 has posted respective average and median returns of 4.9% and 6.4% after May. Respective average and median returns bump up to 5.4% and 6.8% during years with a positive May. Inflation data finally provided some relief, with the Consumer Price Index coming in below expectations
