Weather and intraday patterns in stock returns and trading activity

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Divergence of Sentiment and Stock Market Trading (2017, unknown): “Relatedly, Chang et al. (2008) find that cloudy weather is related to high transaction volumes, Brown (1999) and Lee et al. (2002) find that unusually high levels of sentiment are associated with high volatility, and Coval and Shumway (2005) report that traders with losses in the morning tend to…”
Does the Weather Affect Stock Market Volatility (2010, methodology): “The main empirical finding in this literature is the so-called ‘sunshine effect’ according to which cloudiness, as measured by cloud cover, has a significant negative correlation with daily equity index returns (see Saunders, 1993; Hirshleifer and Shumway, 2003; Chang et al., 2008 among others).”