Investors looking for a long weekend after an already busy start to the new year are in luck — it’s Martin Luther King Jr. Day.
2024 has already given investors a lot to think about. In the first two weeks of this year, the US Bureau of Labor Statistics signaled continued labor market strength when it announced that the United States added more jobs in December than economists had expected. The agency also announced a surprise increase when it announced the December reading of the Consumer Price Index.
So far this year,
Dow Jones Industrial Average
And
Nasdaq Composite
Each of them decreased by 0.3%, while each of them decreased by 0.3%
Standard & Poor’s 500
It rose by 0.3%.
Here are the trading hours for Martin Luther King Jr. Day, plus what investors can expect after returning from the long weekend.
Is the stock market open today?
Martin Luther King Jr. Day is a federal holiday, so the New York Stock Exchange, the Nasdaq Stock Exchange and the U.S. bond market will be closed on Monday. Over-the-counter markets will also be closed on the occasion of Eid.
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US Postal Service and US bank locations will also be closed.
However, since Martin Luther King Jr. Day is a holiday in the United States, international trading hours will not be affected. This means that foreign stock exchanges – including the London Stock Exchange, the Shanghai Stock Exchange and the Hong Kong Stock Exchange – will be open.
How has the market performed historically around this time?
Since 1985, the Dow Jones, S&P 500 and Nasdaq Composite have risen an average of 0.2% from the Friday before Martin Luther King Jr. Day to the Friday after the holiday, according to Dow Jones Market Data.
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What is Martin Luther King Jr. Day?
Monday’s holiday is a celebration of the life of civil rights leader the Rev. Dr. Martin Luther King Jr., and his journey to help end legal segregation in the United States, and is particularly known for his role in the historic March on Washington, D.C. In August 1963, he gave his “I Have a Dream” speech.
Martin Luther King Jr. Day is celebrated on the third Monday of every January, which is always close to the activist’s birthday on January 15.
What should investors prepare for in the coming days?
Investors will have a lot to look forward to. On Tuesday, the Fed will release its Beige Book, a publication describing current economic conditions across the Fed’s 12 districts. More importantly, the book will provide insight into whether or not central bank officials plan to cut interest rates in the coming months.
Corporate earnings season is also around the corner. Netflix is scheduled to announce its fourth-quarter financials on January 23. Tesla and Abbott laboratories
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Both will report fourth-quarter results on January 24.
Write to Angela Palumbo at [email protected]
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