Taylor Swift sporting ‘cushion cut’ engagement ring gives Signet Jewelers stock a brief pop

Your favorite post-pandemic economic engine shared some personal news on Tuesday.

Singer Taylor Swift announced her engagement to Kansas City Chiefs tight end Travis Kelce via social media. The pair’s afternoon post included pictures featuring an engagement ring that has been described as “cushion cut.”

Shares of Signet Jewelers, one of the few jewelers that trades on major exchanges, spiked immediately following the announcement. The stock chart shows a pop shortly after 1 p.m. ET correlated to the post, which has racked up 16 million likes and more than 600,000 reshares as of Tuesday afternoon.

The stock rose more than 3% in the session, presumably on a potential influx of Swifties looking for unique rings to mark their matrimony.

Fans rushed to figure out the ring type following the post. Brides.com quoted one industry professional labeling the diamond as cushion cut.

This isn’t the first time that the “Fearless” singer’s actions have caught the attention of the business and finance world. Swift’s world tour caused a consumer spending bump that was documented by Wall Street analysts and the Federal Reserve.

The “Eras” tour was viewed as boon for hotels and other businesses located near stops during its run from mid 2023 through late 2024. The tour got a nod in a 2023 edition of the Fed’s “Beige Book,” which chronicles trends in regional business activity across the U.S.

Earlier this month, the 14-time Grammy winner displayed her influence once again. After announcing her next album, “The Life of a Showgirl,” well-known consumer brands and professional sports teams raced the match the orange-focused aesthetic.