The US stock and bond markets are set to be closed on February 20, 2023, in observance of Presidents’ Day, which is celebrated to honor all former presidents of the United States. The holiday falls on the third Monday in February each year and is also known as George Washington’s Birthday, in commemoration of the first president of the US.
Following the closure of the US stock market at 4:00 PM EST on February 17, 2023, trading will remain suspended until it reopens on February 21 at 9:30 AM EST. On the last trading day, the S&P 500 saw a decline of 0.28%, ending at 4,079.09 points, while the Nasdaq fell by 0.58% to 11,787.27 points, and Dow Jones rose by 0.39% to 33,826.69 points.
The fluctuations in the stock market followed economic data that indicated high inflation rates, a tight job market, and strong consumer spending, allowing the US Federal Reserve to raise borrowing costs, according to a report by Reuters. The other hand, the Nasdaq index recorded 75 new highs and 68 new lows, indicating a more volatile trading pattern.
While the US stock and bond markets will be closed on February 20, 2023, for Presidents’ Day, other markets such as the federal bank, currency, commodities, and overseas financial markets will remain open. It is expected that the US markets will observe a total of 10 stock market holidays and two half-day holidays in 2023, compared to the previous year, which had 9 US stock market holidays and 1 half-day holiday.
What are the upcoming stock market holiday in 2023?
The next upcoming stock market holiday in the US will be Good Friday, scheduled for April 7, 2023. The 2023 stock market holidays in the United States include Martin Luther King, Jr., Presidents’ Day, Good Friday, Memorial Day, Juneteenth, Independence Day, Labour Day, Thanksgiving (also known as Black Friday), and Christmas Day.
The US stock market has been closed on Presidents’ Day since it was established as a federal holiday in 1885, although it was not officially recognized as a holiday for all federal workers until 1971. Presidents’ Day is observed annually on the third Monday in February to honor the birthdays of George Washington, the first President of the United States, and Abraham Lincoln, the 16th President of the United States, both of whom were born in February.
Investors and traders may choose to adjust their investment strategies in anticipation of the holiday closure, which could affect specific stocks or sectors in the market. Overall, while the closure of the US stock market on Presidents’ Day may cause some short-term disruption, it is unlikely to have a significant or lasting impact on the broader stock market.