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It may not be widely known, but what happens to the stock market when the pope visits is nothing short of a miracle…
Today (Friday) marks the fifth time in history a pontiff will address the United Nations Headquarters in New York City. Pope Francis is the fourth pope to do so – Pope John Paul II addressed the UN twice on American soil, in 1979 and in 1995.
Past visits from the Holy See have always brought with them positive market changes, without exception.
You see, on most days, U.S. stocks are up a little over 50% of the time – which conversely means they are also down a little less than 50% of the time.
But during each papal visit to the UN on American soil, markets have risen 100% of the time, reported TIME on Sept. 24.
In the last visit, Pope Benedict XVI addressed the UN on April 18, 2008. The Dow rose 1.8% that day – the biggest papal pop in stocks yet.
Here's a look at how the Dow performed during all four previous visits from the Vicar of Christ.
Today, the DJIA would need to rise more than 183.26 points, or 1.1%, for the week to end in the green. Presently, the Dow is down 9.1% year to date. Can Pope Francis perform a Wall Street miracle? Will he keep the Dow out of a second week in the red?
We're pretty sure that investors and brokers alike are praying for something good to happen…
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