Rob Gronkowski is best known for his time in the National Football League, but his recent call of timing the bottom in the stock market might be a welcome sign during the often losing month of September.
What Happened: Gronkowski offered a sense of urgency to get stock market prices back up last week after the S&P 500, which is tracked by the SPDR S&P 500 ETF Trust SPY, started the week down.
The former NFL star, who won four Super Bowls during his 11-year NFL career with the New England Patriots and Tampa Bay Buccaneers, was featured in a live television interview sharing his financial takes.
"I want to bring the stock market back. I heard it's down right now with the election thing and everything that's going on. So I'm here at Cantor Fitzgerald to do some trades. I want to do the biggest trades of the day and bring that stock market so it's just moving back, you know, back up to the sky," Gronkowski said.
Tker founder Sam Ro shared the chart below on Gronkowski's comments and the S&P 500 move shortly after.
What followed in the days after Gronkowski spoke was the S&P 500 trading higher. The index was up Wednesday, Thursday and Friday. On Monday, the S&P 500 also traded up.
So was Gronkowski the good luck charm the stock market needed as September came in with a whimper?
Not exactly.
Wednesday saw the release of CPI data and the stock market reacted negatively with the S&P 500 going down 1.6% before finishing the day 1.1% higher, as shared by Freedom Capital Markets Chief Global Strategist Jay Woods in his weekly newsletter.
Woods said Wednesday marked the largest intraday comeback since November 2022, which he said is coincidentally "about the same time this current bull market began."
The market strategist, like many financial experts and analysts, attributed the rally on Wednesday to positive comments from NVIDIA Corp NVDA CEO Jensen Huang while speaking at the day's Goldman Sachs Communacopia and Technology Conference.
"That led to an 8% rally in one of the most influential stocks in the market and continued to rally the rest of the week. In fact, the semiconductor and technology sectors had their best week of the year," Woods said.
Woods said Gronkowski timed the market "just right."
"I'll let the readers decide if it was more of a Jensen Huang-led rally or Gronk. Either way, the markets held the lows set a week ago Friday and finished last week at its highs."
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Why It's Important: While the chart above points to Gronkowskis' timing, the likely reason for the stock market optimism last week was Nvidia and Huang.
Huang spoke of strong AI demand, no Blackwell (AI chip) delays and the potential return on investment for companies buying products from Nvidia.
The comments sparked optimism for Nvidia and the overall stock market.
The SPDR S&P 500 ETF is now up 4.2% from its low of $539.96 on Sept. 11. With a closing price of $562.84 on Monday (Sept. 16), the stock market index ETF is now almost even with the August closing price of $563.68.
The weak open to September could soon be a thing of the past thanks to Huang and Gronkowski.
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Photo: Ron Gronkowski, Public Domain, Chairman of the Joint Chiefs of Staff from Washington D.C, U.S. via Wikimedia Commons; Jensen Huang via Shutterstock
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