Feasting On Profits: Does Thanksgiving Week Cook Up Stock Market Gains?
Portfolio Pulse from Piero Cingari
Historical data shows that the S&P 500 typically experiences gains during November, ranking as the third-best month with an average increase of 0.88%. Specifically, Thanksgiving week has shown an average gain of 0.54% over the last 50 years, with a 68% chance of positive returns. The SPDR S&P Retail ETF (XRT) has seen an average gain of 1.72% during this period. However, investors are cautioned not to rely solely on Black Friday sales as an indicator of Q4 performance.
November 15, 2023 | 10:02 pm
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POSITIVE IMPACT
The SPDR S&P Retail ETF (XRT) historically averages a 1.72% gain during Thanksgiving week, indicating a potential short-term positive impact.
The historical data provided suggests a strong performance for the retail sector during Thanksgiving week, which is reflected in the past gains of the XRT ETF. However, the caution advised regarding the correlation between Black Friday sales and Q4 performance tempers the confidence and importance scores.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90