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Feb.24
7:42 AM ET
Tuesday, 24 Feb 2009
Will Mardi Gras Bring a Tuesday with Fat Gains?
Topics:Dow Jones Industrial Average | Stock Market
Companies:Home Depot Inc | ALCOA Inc | JPMorgan Chase and Co | Bank of America Corp | Citigroup Inc
 |
AP Mardi Gras |
] is now down nearly 50% from its peak in October 2007. So will Mardi Gras help break the losing streak and be a Fat Tuesday for the Markets? Unfortunately in this case, the glass is half empty and history is not on our side. Here are the historical averages for the major indices.Dow since 1900:
- On average the Dow has lost 0.13% on Mardi Gras
- Up 49% of the time, avg gains of 0.68% when up during Mardi Gras
- Down 51% of the time, avg loss of -0.88% when down during Mardi Gras
- The biggest gain on Mardi Gras was on 2/28/1933, when the Dow finished up 2.45%
- The biggest loss on Mardi Gras was on 2/23/1909, when the Dow finished down -5.24%
S&P since 1928:
- On average the S&P has lost 0.18% on Mardi Gras
- Up 51% of the time, avg gains of 0.62% when up during Mardi Gras
- Down 49% of the time, avg loss of -0.99% when down during Mardi Gras
- The biggest gain on Mardi Grass was on 2/28/1933, when the S&P finished up 1.8%
- The biggest loss on Mardi Grass was on 3/5/1935, when the S&P finished down -3.31%
Nasdaq Composite since 1971:
- On average the NASDAQ has lost -0.32% on Mardi Gras
- Up 42% of the time, avg gains of 0.46% when up during Mardi Gras
- Down 58% of the time, avg loss of -0.87% when down during Mardi Gras
- The biggest gain on Mardi Grass was on 3/6/1973, when the Nasdaq finished up 1.19%
- The biggest loss on Mardi Grass was on 2/27/2001, when the Nasdaq finished down -4.36%
>>> What it Takes to Move the Dow
In the premarkets, the futures are pointing to a modest gain this morning. Leading the Dow in premarket trading are Alcoa [AA
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], Bank of America [BAC
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], Citigroup [C
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], JP Morgan Chase [JPM
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], and Home Depot [HD
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].
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