Market Extra: Will Rio Olympics help send U.S. stocks to new highs?

Juiced by ample liquidity and reinvigorated confidence in the U.S. economy, major stock indexes rallied to record highs this week. And history suggests there may be another surprising reason to look for further gains in August—the Rio Olympics.

The S&P 500 SPX, +0.86% rose 0.4% for the week to 2,182.86, an all-time closing high, while the Nasdaq Composite Index COMP, +1.06% added 1.1% on the week to 5,221.12, also a record. The Dow Jones Industrial Average DJIA, +1.04% posted a weekly gain of 0.6% to close at 18,543.53.

The S&P 500 has traditionally performed well during the Summer Games, according to analysts.

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