PETA Casts Shadow Over Groundhog Day, Wants This Method Used Instead: How Does Stock Market Perform On Holiday?
Portfolio Pulse from Chris Katje
PETA proposes replacing Punxsutawney Phil with a coin for Groundhog Day predictions, citing the groundhog's low accuracy. The tradition, dating back to the 1800s, attracts thousands annually. Despite Phil's predictions, the SPDR S&P 500 ETF Trust (SPY) showed positive returns on Groundhog Day for the last five years, with no significant impact from the event. Groundhog Day 2024 may see increased stock market volatility due to major company reports from Apple (AAPL), Amazon (AMZN), and Meta Platforms (META), coinciding with the release of Apple Vision Pro headsets.
February 02, 2024 | 3:53 pm
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NEUTRAL IMPACT
Apple Inc (AAPL) is one of the largest companies reporting earnings on Groundhog Day 2024, potentially contributing to increased stock market volatility.
Given that Apple Inc (AAPL) is among the largest companies to report earnings on Groundhog Day 2024, its performance could influence market sentiment and volatility. However, without specific details on the earnings outcome, the impact remains speculative, leading to a neutral score.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Amazon.com Inc (AMZN) reporting earnings on Groundhog Day 2024 could influence stock market volatility, alongside other major companies.
Amazon.com Inc (AMZN) is listed as one of the major companies reporting earnings on Groundhog Day 2024. This event, combined with reports from other significant companies, could affect market volatility. The neutral score reflects the speculative nature of the impact without specific earnings details.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Meta Platforms (META) reporting earnings just before Groundhog Day 2024 may contribute to stock market volatility, especially with other major companies reporting around the same time.
Meta Platforms (META) is reported to release earnings just before Groundhog Day 2024, which, along with other major company reports, could lead to increased market volatility. The impact is considered neutral due to the speculative nature of the effect without detailed earnings information.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
SPDR S&P 500 ETF Trust (SPY) showed positive returns on Groundhog Day for the last five years, indicating no significant impact from Punxsutawney Phil's predictions on the stock market.
The historical data provided shows that the SPDR S&P 500 ETF Trust (SPY) has consistently posted positive returns on Groundhog Day, regardless of Punxsutawney Phil's weather predictions. This suggests that the event has no significant short-term impact on the stock market, making the score neutral.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 50