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The paper examines the impact of weather-related moods and feelings on the Australian stock market over the period 1958 to 2005. Eleven daily weather elements (precipitation, evaporation, relative humidity, maximum and minimum temperature, average daytime temperature, hours of bright sunshine, and the speed and direction of the maximum wind gust and the average daytime wind) are included in the analysis, along with daily nominal and real market returns. Non-parametric correlation analysis and autoregressive moving average (ARMA) models are employed, supplying strong evidence of sustained inertia and overreaction in market returns, and non-normally distributed, highly interrelated, but stationary, weather conditions. But contrary to earlier findings, the results indicate that the weather has no influence on market returns confirming that Australian investors weather the weather, whether they like it or not.

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