Shesa's JUNE 2024 Investment Blog (updated)
By Shesa Nayak U.S. Stock Market Update The theory that sell in May and go away has failed so far. Wall Street had a strong May with all three major averages notching their sixth positive month out of seven. Nasdaq went up 6.9% , its best month since November 2023. Since my last blog all the major U.S stock indexes have hit their new all-time high. Nvidia released another spectacular quarter, keeping the Nasdaq and overall stock market afloat. It became the second most valuable U.S public company surpassing Apple. The company and its stock has been on fire. The Q2 earnings seasons is almost over expect a handful of S&P 500 companies left. Overall it was a good quarter resulting in 5.9% earnings growth surpassing analyst estimates. The economic number has started smothering. However, the U.S. economy added 272,000 jobs in May, versus expectations for just 180,000. However, the unemployment rate went up to 4% , the highest unemployment rate since January 2022...