Can Eli Manning Save the Stock Market?
It's another bum Monday on Wall Street, and market watchers are glumly certain that when the Fed meets on Wednesday, they'll bow to pressure and offer another rate cut, which could have some nasty long-term effects on the economy. So maybe they should hold off until after the Super Bowl? After all, according to Super Bowl Stock Theory by legendary Times sports writer Leonard Koppett, the market is likely to surge if the Giants beat the Patriots. Koppett's theory holds that if the January Super Bowl winner was in the NFL before it merged with the AFL in 1970, the market will rise. The Giants have been a part of the NFL since 1925; the Patriots joined the AFL in 1960. If the Patriots win, the theory holds, the market will drop. We have no idea why this is, but according to Business Week, the Super Bowl hypothesis has had a 75 percent success rate. Which means that if they win, the Giants will not only be saving New York's sports record; they might save America, and by extension, the global economy, from a terrible recession! But, you know, no pressure or anything. The Super Bowl Stock Indicator [Business Week] What the Fed is considering at its meeting. [Reuters] Related: Underdog [NYM]