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May Performance

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finance1 year ago

S&P 500 Surges in May, Defying Market Trends and Boosting 2024 Outlook

The S&P 500 gained 4% in May, making it one of the best Mays since 1950 and supporting a bullish outlook for 2024. Historically, strong Mays often lead to positive year-end returns, with a 70% chance of gains averaging 8.6%. Stock Trader's Almanac forecasts 8-15% gains for the year, potentially reaching 15-25%. The market's resilience is attributed to reduced uncertainty from known political candidates and historical trends favoring incumbent parties.