The Globe and Mail reports in its Wednesday edition that a U.S. stock rally is cruising into a month that has proven strong in recent years, though equities must navigate employment data and an earnings season that could be precarious, with the Federal Reserve bent on raising U.S. interest rates. A Reuters dispatch to The Globe says that the S&P 500 defied recession fears and a U.S. banking crisis to notch a 15.9-per-cent gain in the first half. The Nasdaq composite powered ahead 31.7 per cent for its biggest first-half increase in four decades. Investors betting the upward trend will continue over the next few weeks have recent history on their side. The S&P 500 has posted a positive return in eight consecutive Julys, and the tech-heavy Nasdaq 100 Index has climbed in July for 15 straight years. "We have had a pretty resilient market in the first half of this year," said Mona Mahajan, an investment strategist at Edward Jones. July brings its share of potentially market-moving events, including second-quarter corporate results. Investors will focus on results from seven tech and other megacap companies, including Apple, Microsoft and Nvidia, whose outsized gains have driven the S&P 500's rise this year.