"U.S. investors should stick with stocks and ignore the axiom of “sell in May and go away,” according to David Bianco, UBS AG’s chief equity strategist.
“Hold on for further gains in May,” Bianco wrote in a report dated May 1. Seasonal patterns are “a weak force” by comparison with the economy, which is showing “clear signs of improvement,” the report said.
The CHART OF THE DAY shows the average monthly returns for the Standard & Poor’s 500 Index since 1950. For May through October, the figure is less than 1 percent each month. Averages for November through April exceed 1 percent in every month but February."