Image via Wikipedia
With the Giants about to ride down the Canyon of Heroes this morning, right past your humble blogger’s office window (well, actually the conference-room window, down the hallway on the other side of the building), I thought it might be fun to look at what the market did on the date of ticker-tape parades historically.
Of course, your blogger thought of this only last night, and passed out after going back only through the 1970s. There were 19 parades in that period. Prior to that, ticker-tape parades were much more frequent – 32 parades in the 1960s; 60 in the 1950s; hundreds more through the 1920s – and I figured that would be a good project for someone with a research staff.
UPDATES IN BOLD: The score: 10 up days;
7 8 down days; two parades one parade took place on a weekend s, when the market is closed. Many of the moves either way were insignificant. The largest up day came on 30 October 2000 – up 245.15 points – when the Yankees capped their dynasty run with a World Series victory over the Mets. (Yes, I had to mention it.) The largest down day was on the Giants' 2008 parade day -- minus 370.03.
Thanks to my SEC (sharp-eyed colleague) Tony Walenty, who corrected me on the 2008 parade. I had read the table incorrectly for that date and thought we were closed; Tony remembered going outside and seeing Eli Manning passing by, holding the Lombardi Trophy aloft.
I used Wikipedia for the parade dates, plus another source to fill in a missing date. The Dow Jones Industrial Average served as a proxy for the market because it was easy (and free) to find historical data on the Dow.
Following are the parade dates starting in the 1970s, the honorees, the close of the Dow that day and the change in the average (in points). Enjoy today’s parade!