Happy Tuesday! The Wall Street adage of “sell in May and go away” hasn’t applied to these five S&P 500 stocks, which have a history of outperforming this month. Here’s a look at why they deserve a spot on your watchlist. Also, don’t miss the latest Insider Report, which features several stocks that look ready to run.

— Justin Giles

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MARKET RECAP

Yesterday: Stocks edged lower Monday, ending the S&P 500’s nine-day winning streak, as energy stocks weighed on the index following a 2% drop in oil prices tied to plans of OPEC+ boosting supply in June. Treasury yields rose modestly, with the 10-year yield at 4.34% and the 2-year at 3.83%. The ISM Services PMI surprised to the upside (51.6), pointing to continued strength in the services sector. Trade optimism, which supported gains in recent weeks, waned as deals have yet to be announced, and uncertainty remains over U.S.-China relations.

On Our Radar: Attention now turns to this week’s two-day Fed meeting, which kicks off today, followed by Wednesday’s press conference where Fed Chair Jerome Powell will provide comments on the economic outlook. Rates are expected to remain steady this month, however, investors will listen closely for clues on potential rate cuts later this year. On the earnings front, AMD, Rivian and Electronic Arts headline a slate of companies that will report results after hours today.

TOP STORY

S&P 500 Stocks That Defy 'Sell In May' Myth: 5 Companies With Strong Historical Gains

We’ve all heard the saying, “sell in May and go away,” but these five S&P 500 companies haven’t gotten the memo.

Find out which companies have repeatedly delivered standout returns in May, and why they are worth a closer look.

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FIVE ZINGERS

Priced In: Palantir crushed Q1 expectations and raised its full-year outlook. However, shares tumbled nearly 10% after hours. What spooked the market despite the bullish numbers? Click here to get the full breakdown.

Hims & Hurdles: Shares of Hims & Hers Health dropped after hours despite topping expectations amid soaring revenue and subscribers. Read on to see why, and if analysts are calling this a buying opportunity.

Footwear Frenzy: Shares of Skechers soared following its acquisition by 3G Capital. Check out all the details here and discover how this could shake up the retail and footwear landscape.

Brake Check: Ford’s Q1 results topped analyst expectations, but investors slammed the brakes after the automaker suspended full-year guidance. Here’s everything under the hood.

Gig Growth: Shares of Upwork jumped after the company beat Q1 estimates and hiked its full-year EPS forecast. Read on to see what’s powering the platform’s rebound and why Wall Street is turning bullish.

SPECIAL OFFER

The Insider Report: Bears Can't Hibernate In The Spring

Editor’s Note: Every week, Benzinga Edge members receive the Insider Report. It’s a rundown of what to expect from the markets in the week to come, which sectors are outperforming and why, and most importantly, a selection of hand-picked stocks that are likely poised to move up because of that week’s trends. Here’s a sneak peek:

Last week's GDP report from the first quarter came in worse than expected, but not by that much. What's most interesting about the GDP report is that if you account for the surge in imports due to companies trying to front-run tariffs, it actually would have been a positive print.

To be clear, that's not an attempt to put a positive spin on a bad report. The U.S. is on the verge of a recession, but what this does is blow the path wide open for the Fed to cut rates soon. I don't think they'll do it this week, but the June meeting seems to be a lock at this point.

This means that the market is starting to price in more liquidity. I'm going to share an important chart on this front below. When liquidity rises, those sharp moves lower, like we saw in March and April, become less likely. It could turn into a slow grind higher instead.

To keep reading and to find out how investors can get in front of the noise, sign up for the Insider Report here.

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