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Mark Hulbert: What the solar eclipse on Aug. 21 will mean for stocks

CHAPEL HILL, N.C. — Might the upcoming total eclipse of the sun coincide with the bull market’s top?

I know, I know—many of you are wondering why this question is worth even asking. So before I tackle the question, you should know that there have been several academic studies that have found stock markets are indeed affected by astronomical (if not astrological) phenomena.

Here’s a quick sampling:

•“Good Day Sunshine: Stock Returns and the Weather” was conducted by David Hirshleifer of the University of California, Irvine, and Tyler Shumway of the University of Michigan. The researchers found that a country’s stock market performs significantly better on days when the sun is shining in the city of its leading stock exchange.

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