U.S. traders get a break on Monday, Feb. 20, with markets closed for the Presidents Day vacation.
The New York Stock Exchange, owned by Intercontinental Exchange Inc.
and the Nasdaq
will each be closed. Sifma, the monetary trade commerce group, has really useful that buying and selling in U.S. fixed-income markets additionally shut on Monday.
Presidents Day is a federal vacation, so don’t spend it ready by the mailbox or planning an in-person assembly together with your favourite banker.
Don’t miss: Is the submit workplace open on Presidents Day? Are banks and colleges open?
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It will give traders a three-day weekend to digest a latest run of financial knowledge that’s led merchants to largely transfer market expectations for rate of interest rises again in step with the Federal Reserve’s projections. While Treasury yields have risen to or close to their highs for the 12 months up to now, shares have retreated however are nonetheless holding on to features for 2023, recovering from final 12 months’s droop.
The previous week noticed the Dow Jones Industrial Average fall 0.1%, whereas the S&P 500 logged a second straight weekly fall, down 0.3%. The Nasdaq Composite rose 0.6%.
For the 12 months thus far, the Dow
stays up 2.1%, whereas the S&P 500
has risen 6.2% and the Nasdaq Composite
has jumped 12.5%. That’s a mirror picture of final 12 months’s carnage, which noticed the Dow outperform whereas the Nasdaq slumped by greater than 30% because the Fed aggressively hiked rates of interest.
Source web site: www.marketwatch.com