Investors are likely getting out their hamburger buns—and putting away their stock trading apps—on Monday for Independence Day.
This year, the Fourth of July falls during the first full week of the third quarter. Stocks had a brutal second quarter, which saw the S&P 500 closing the April-June period down 16.5%. Amid fears of rising inflation, supply-chain shortages, and a possible recession, the broad market index has dived about 20% so far this year.
Meanwhile, the tech-heavy Nasdaq Composite has tumbled about 29% in 2022, and the blue-chip Dow Jones Industrial Average has dropped slightly more than 14%.
This is what you need to know if you’re thinking about trading.
Is the Stock Market Closed for the Fourth of July?
The New York Stock Exchange and the Nasdaq will be closed on Monday in observance of Independence Day. Regular trading, which takes place on weekdays from 9:30 a.m. to 4 p.m., will resume on Tuesday, July 5.
Bond markets and over-the-counter markets will also be shut Monday, before reopening at 9:30 a.m. on Tuesday.
Are International Markets Open Today?
Since the Fourth of July is only a federal holiday in the U.S., the London Stock Exchange, the Shanghai Stock Exchange, the Tokyo Stock Exchange, the Toronto Stock Exchange, and the Hong Kong Stock Exchange will be open regular hours.
What Else Should I Know About the Fourth of July in the U.S.?
The holiday celebrates the signing of the Declaration of Independence on July 4, 1776, during the Revolutionary War.
Federal offices in the U.S. will be closed in observance of Independence Day. They are also shut on Thanksgiving, Christmas, Memorial Day, Veterans Day, Columbus Day, Labor Day, Martin Luther King Jr. Day, Washington’s birthday, New Years Day and Juneteenth, which became a federal holiday in 2021.
What Should Wall Street Look Out For?
Investors, analysts, and economists should gear up for Friday morning, when the June U.S. nonfarm payrolls and unemployment report is slated to be released. Economists polled by FactSet expect the unemployment rate for June to be 3.6%, the same as it was in May.
Next week, third-quarter earnings season will ramp up in earnest, with big banks such as JPMorgan Chase (JPM), Morgan Stanley (MS), Wells Fargo (WFC), and Citigroup (C) expected to release results.
Write to Angela Palumbo at [email protected]
Write to Angela Palumbo at [email protected]
