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CNN Live At Daybreak

Super Bowl & Stocks: If AFL Team Wins Super Bowl, Bear Market Returns?

Aired February 02, 2004 - 06:18   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CAROL COSTELLO, CNN ANCHOR: Time for a little "Business Buzz" now. The Patriots win. Good news for New England fans, but bad news for the bull market.
Carrie Lee is live from the Nasdaq market site.

So tell us, give us the scoop.

CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Well, Carol, some superstitious investors may be a little bit nervous from last night's game. That's because the Super Bowl stock indicator suggests that a victory by teams from an old American Football League team mean a return of the bear market. The indicator saw a better than 90 percent success rate for the first 31 years of the game. It was right 28 times or 90.3 percent.

Now the indicator has been in a slump since 1997. In 2002, when the Patriots won the first Super Bowl, the Standard & Poor's 500 index actually fell 30 percent. Last year's winner, the Tampa Bay Buccaneers, considered an NFL team, last year we experienced a bull market. So not always accurate, Carol, but if you are superstitious, well, could mean things for stocks this year. We'll see.

COSTELLO: Just wish I had a salt shaker, then I would throw some salt over my shoulder.

Carrie Lee live from the Nasdaq market site.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com





Market Returns?>


Aired February 2, 2004 - 06:18   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little "Business Buzz" now. The Patriots win. Good news for New England fans, but bad news for the bull market.
Carrie Lee is live from the Nasdaq market site.

So tell us, give us the scoop.

CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Well, Carol, some superstitious investors may be a little bit nervous from last night's game. That's because the Super Bowl stock indicator suggests that a victory by teams from an old American Football League team mean a return of the bear market. The indicator saw a better than 90 percent success rate for the first 31 years of the game. It was right 28 times or 90.3 percent.

Now the indicator has been in a slump since 1997. In 2002, when the Patriots won the first Super Bowl, the Standard & Poor's 500 index actually fell 30 percent. Last year's winner, the Tampa Bay Buccaneers, considered an NFL team, last year we experienced a bull market. So not always accurate, Carol, but if you are superstitious, well, could mean things for stocks this year. We'll see.

COSTELLO: Just wish I had a salt shaker, then I would throw some salt over my shoulder.

Carrie Lee live from the Nasdaq market site.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com





Market Returns?>