Unlike some federal holidays, expect to find most national restaurant chains and retailers open on the day that honors the civil rights icon. Many stores will have sales over the holiday weekend. However, in certain circumstances, the stock market will close early in the days preceding or following market holidays.
In the United States, it falls on the fourth Thursday in November, but in Canada, it falls on the second Monday in October. Because the summer months of June, July, and August is a time when many people take their vacations, seasoned traders dub it “The Big Drought.” The worst month for trading in summer is August. Retailers generally choose to stay open on MLK Day, luring shoppers in with inventory clearance sales as they get rid of the last of their holiday inventory. Everyone from Walmart to Target to Home Depot to Walgreen’s and CVS will likely be open, though perhaps with adjusted hours.
Designed to honor Martin Luther King Jr., MLK Day became a federal holiday in 1983, though some states took a bit longer to adopt it as a paid state holiday. It was the first federal holiday in the U.S. to honor an African American. Some, but not all, investors will enjoy a three-day weekend thanks to the Columbus Day and Indigenous Peoples’ Day holidays.
Is the Stock Market Open on Martin Luther King Day?
In 1983, President Ronald Reagan signed a bill to create a U.S. federal holiday in honor of King, and the first year it was officially observed was in 1986. However, it wasn’t until 2000 that all 50 states recognized MLK Day. No, major grocery store chains across the nation are open Monday but hours can vary. It’s also possible some locations will be closed or operate with shorter hours because of COVID-19 pandemic and staffing shortages.
Their regular hours of operation run from Monday to Friday from 9.30am to 4pm ET, while their doors shut over the weekend. On Thursday, December’s consumer-price index data showed inflation slowed again, with the headline inflation retreating for the sixth month in a row, declining to 6.5% from 7.1% in November. Core inflation, which excludes volatile food and energy costs, rose 5.7% in December from a year ago. Fed-funds futures now reflect a 94% probability of a 25-basis point rise in February, up from around 77% on Wednesday, according to CME FedWatch Tool. Investors looking for a brief respite from two weeks of volatile trading on Wall Street may get one on Monday, when Martin Luther King Jr.
- Department stores are open Monday but Macy’s has temporarily revised store hours for the rest of January.
- Since holidays are typically happier times of the year, they can relieve the relentless stress of active trading.
- In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
- A Level 1 or Level 2 breach halts trading for a minimum of 15 minutes.
- Take a look at which days the NYSE, Nasdaq and bond markets are off in 2023.
Additionally, markets will typically close when a former president dies, most recently being shuttered for the funeral of former President George H. W. Bush in December 2018. However, when traders talk about the NASDAQ, they are not always referring to the exchange itself, but to the NASDAQ Composite Index, a statistical measure of a part of the market. You can infer a trader’s fxdd forex broker review meaning by the context of a statement. For instance, an online discussion about whether the NASDAQ is up or down for the day refers to the NASDAQ Composite Index. There might be the very rare exception, but generally city, county, state and federal offices are closed. Here’s a look at what’s open and closed on MLK Day 2023 and a brief history about the holiday.
U.S. stock and bond investors will get a three-day weekend for MLK Day
The pre-market trading hours of the NYSE are from Monday through Friday, opening at 8.00 AM Eastern Time and closing at 9.30 AM Eastern Time. While the New York Stock Exchange and Nasdaq are closed, stock futures will lmfx review be active, including contracts linked to the Dow (DJI), S&P 500 (SP500) and Nasdaq Composite (COMP.IND). All three of the major averages have had an impressive start to 2023, soaring 3.5%, 4.5% and 6.6%, respectively.
Private businesses including smaller, independent shops and local restaurants may be closed and most schools, colleges and universities won’t hold classes. The Martin Luther King holiday is traditionally observed on the third Monday of January to mark King’s birthday, January 15, 1929. This means that Bank of America, Wells Fargo, Chase, CitiBank, and U.S.
What’s this I’m hearing about Robert E. Lee Day?
Regular mail delivery, collections and retail services resume Tuesday. Another government-run institution that will be closed is your local public library. Bond traders will get the day off, too, with the bond market closed on Monday, Jan. 16, for MLK Day. The stock market will be closed Monday, Jan. 16, for MLK Day, as the holiday is also known.
The major stock market exchanges close for many of the same holidays (Thanksgiving, Christmas, etc.) that other businesses observe. Additionally, there are several days that the market ends its trading session early. Trading volume tends to become lower immediately before holidays and rises immediately after holidays. However, the stock markets are closed on Martin Luther Jr. Day 2022, as the days are a designated federal holiday, meaning traders are currently enjoying a well-earned three-day weekend.
Financial Calendars
Any potential rally will depend on interest rates, the team from LPL Financial says. Below is the list of remaining market holidays for 2023, courtesy of the New York Stock Exchange. It is celebrated annually on the third Monday of January and marks the birthday of the civil rights leader and minister. The market went dark only two other times in its history.
Will there be any mail delivery on MLK Day?
The main entities that are closed for the day will be corporate offices, government agencies and banks. Below, we feature a full schedule of all stock market holidays and bond market holidays for 2023. If you are an investor beaxy exchange review or trader with a position in foreign stock, remember that all countries have their own stock market holiday schedule. A foreign stock exchange may be open on days when the U.S. stock market is closed and vice versa.
News
For instance the NYSE and Nasdaq close at 1 pm the day after Thanksgiving, on Christmas Eve (if it falls on a weekday) and on July 3 (if both it and July 4 fall on a weekday). A new year means that traders are keeping a close eye on their portfolio and looking at the financial opportunities that may arise. A big part of making your financial plans is knowing what dates during the year that the United States stock market is open. This guide will lay out all of the dates in 2022 that the United States stock market will be closed for holidays.
Congress in 1885 decided federal employees should have certain days off from work and so introduced U.S. federal holidays to coincide with days of significance recognized and celebrated by Americans. The U.S. Post offices are closed on Monday, Jan. 17, Martin Luther King Jr Day. No residential or business deliveries except Holiday Premium/Priority Mail Express.