Investors who are looking for a long weekend following an already busy start to the new year are in luck—it’s Martin Luther King Jr. Day.
2024 has given investors a lot to think about already. In the first two weeks of the year, the U.S. Bureau of Labor Statistics pointed to a continuing strong labor market when it announced that the U.S. added more jobs in December than economists anticipated. The agency also reported a surprise increase when it announced the December reading for the consumer price index.
So far this year, the
and
are each down 0.3%, while the
is up 0.3%.
Here are the trading hours for Martin Luther King Jr. Day, as well as 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 all be closed on Monday. Over-the counter markets will also be shut in observance of the holiday.
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The United States Postal Service locations and U.S. banks will also be closed.
However, because Martin Luther King Jr. Day is a U.S. holiday, international trading hours will not be impacted. That means foreign exchanges—including the London Stock Exchange, the Shanghai Stock Exchange, and the Stock Exchange of Hong Kong—will be open.
How Has the Market Historically Performed Around this Time?
Since 1985, the Dow, the S&P 500, and the Nasdaq Composite have all gained 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 Rev. Dr. Martin Luther King Jr., and his journey to help end legalized segregation in the U.S. King is particularly well-known for his role in the historic march on Washington, D.C. in August 1963, where he delivered 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 Jan. 15.
What Should Investors be Prepared for in the Days Ahead?
Investors will have plenty to look forward to. On Tuesday, the Federal Reserve will release its Beige Book, which is a publication that describes current economic conditions across the 12 Federal Reserve Districts. Crucially, the book will provide insight as to whether or not central bank officials plan to cut interest rates in the coming months.
Corporate earnings season is also right around the corner.
is scheduled to report fourth-quarter financials on Jan. 23.
and
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will both report fourth-quarter results on Jan. 24.
Write to Angela Palumbo at [email protected]
