Monday, May 30 marks Memorial Day, a US holiday honoring the men and women who died in the military service while also marking the unofficial beginning of summer.
US financial markets, including the New York Stock Exchange owned by Intercontinental Exchange Inc. ICE,
and exchanges operated by Nasdaq Inc. NDAQ,
remains closed on Monday.
Stocks posted strong weekly gains ahead of the holidays, with the Dow Jones Industrial Average DJIA,
That broke a streak of eight straight weekly declines — the longest since 1932, according to Dow Jones Market Data. The S&P 500 SPX,
and Nasdaq Composite COMP,
ended a streak of seven weekly declines.
While stocks have suffered in 2022, investors have been heartened by data showing that inflationary pressures, while still running hot, could be peaking.
Bond traders, meanwhile, got an early hop on holiday. The Securities Industry and Financial Markets Association, an industry trade group, recommended a 2:00 p.m. Eastern time close for US fixed income trading on Friday. Trading is closed on Monday.
Treasury yields, which move inversely to price, have declined since hitting their highest levels since late 2018 earlier this month.
Parades and memorial services are on the agenda alongside barbecues and family picnics. Memorial Day also marks the start of what analysts dubbed the “summer driving season” in the US, which lasts through September’s Labor Day weekend.
While investors are showing some signs of optimism on the inflation front, the summer driving season is set to get off to a painful start for motorists as pump prices are at or near records on both sides of the Atlantic due to tight supplies of gasoline and distillates. That has helped keep crude oil futures high, with the US benchmark CL.1,
on Friday ended at a nearly three-month high above $115 a barrel on the New York Mercantile Exchange.
https://www.marketwatch.com/story/is-the-u-s-stock-market-closed-on-memorial-day-what-investors-need-to-know-11653664367?rss=1&siteid=rss Is the US Stock Exchange Closed on Memorial Day? What investors need to know.