Solar eclipse: Two stocks to buy in US amid the buzz

Investors are often on the lookout for unique indicators that could influence market trends, from celestial phenomena to cultural phenomena.

Amid the buzz of the solar eclipse that took place on April 8, savvy investors are exploring potential opportunities that may arise.

With historical data suggesting positive market performance during eclipse years, attention turns to stocks poised to benefit from the celestial event.

What has the trend been in solar eclipse years?

Examining past occurrences of total solar eclipses in the continental United States reveals an intriguing correlation with market performance.

According to data spanning from 1900 through 2017, the Dow Jones Industrial Average (DJIA) recorded positive gains in 10 out of 13 eclipse years.

Notable surges include a remarkable 44% rise in 1954 and substantial gains of 30% in 1925, 26.6% in 1945, and 25.1% in 2017.

What the market pointing to?

Market watchers are closely monitoring the Dow’s impressive performance in 2024.

With the DJIA flirting with the 40,000-point milestone and setting multiple record highs, investor optimism remains palpable.

The S&P 500 index has also experienced notable success, setting 22 new all-time highs in the first quarter of the year, marking the sixth-greatest count since World War II.

Two stocks to buy in US amid the buzz

Against this backdrop of market excitement, two stocks have emerged as potential beneficiaries of eclipse-related demand: Airbnb (ABNB) and Alaska Air Group (ALK).

Airbnb (ABNB)

Despite recent volatility, Airbnb has remained resilient, buoyed by a rebound in travel demand.

Recent data indicates a surge in searches for home and apartment rentals along the eclipse’s pathway, signaling heightened interest in eclipse tourism.

While ABNB stock has experienced minor fluctuations, the surge in eclipse-related travel could fuel renewed growth for the homestay innovator.

Alaska Air Group (ALK)

With eclipse enthusiasts flocking to states along the eclipse path, demand for airline tickets is on the rise.

Alaska Air Group, parent company of Alaska Airlines, has reported a significant uptick in flight bookings to key eclipse-viewing destinations.

The surge in demand underscores Alaska Air’s strategic positioning in regions set to benefit from eclipse-related travel, presenting an opportunity for growth amidst eclipse excitement.

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