Do Summer Olympics (And Gold Medals) Matter To The Stock Market? The Results May Surprise You
Portfolio Pulse from Chris Katje
The article examines the impact of the Summer Olympics on the stock market, highlighting that while the games can cause volatility for companies directly tied to the event, such as Comcast Corp (NASDAQ:CMCSA), the overall market impact is minimal. The SPDR S&P 500 ETF Trust (NYSE:SPY) has shown modest gains during past Olympics. Country-specific ETFs like iShares MSCI Japan Fund (NYSE:EWJ), iShares MSCI Brazil ETF (NYSE:EWZ), and iShares China Large-Cap ETF (NYSE:FXI) have had mixed results. DraftKings Inc (NASDAQ:DKNG) is also mentioned for its odds on medal counts.
July 25, 2024 | 10:24 pm
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NEGATIVE IMPACT
The iShares China Large-Cap ETF was down 2.1% during the 2008 Summer Olympics, indicating a negative impact from the event.
The FXI ETF was down 2.1% during the 2008 Summer Olympics, suggesting a negative impact on the Chinese stock market during the event.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
The iShares MSCI Japan Fund showed minimal change during the 2020 Summer Olympics, indicating limited impact from the event.
The EWJ ETF showed minimal change during the 2020 Summer Olympics, suggesting that the event had little impact on the Japanese stock market.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Comcast Corp, as the U.S. media rights holder for the Olympics, could see increased volatility during the games due to viewership and advertising revenue fluctuations.
Comcast holds the U.S. media rights for the Olympics, making it directly tied to the event. Increased viewership and advertising revenue during the games could positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
DraftKings Inc is mentioned for its odds on medal counts, which could attract attention and potentially increase user engagement and revenue.
DraftKings is providing odds on Olympic medal counts, which could attract more users to its platform, potentially boosting engagement and revenue.
CONFIDENCE 60
IMPORTANCE 30
RELEVANCE 40
POSITIVE IMPACT
The iShares MSCI Brazil ETF saw a 1.0% gain during the 2016 Summer Olympics, indicating a slight positive impact from the event.
The EWZ ETF experienced a 1.0% gain during the 2016 Summer Olympics, suggesting a slight positive impact on the Brazilian stock market during the event.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust has shown modest gains during past Summer Olympics, indicating a minimal but positive impact on the broader market.
Historical data shows that the SPY has experienced modest gains during the duration of past Summer Olympics, suggesting a slight positive impact on the broader market.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60