Mount Rushmore National Memorial in Keystone, S.D. features the sculpted heads of George Washington, Thomas Jefferson, Theodore Roosevelt, and Abraham Lincoln.
Photo by Scott Olson/Getty Images
Investors will get a break this Monday to celebrate Presidents Day, a federal holiday that recognizes all U.S. presidents.
The tradition dates back to 1885 and was first established to honor George Washington. Presidents Day falls on the third Monday of every February. This year it falls on Monday, Feb. 21, 2022.
Government offices will be closed and so will banks, as it’s also a bank holiday. The U.S. Postal Service won’t deliver mail on Presidents Day. Many public schools are closed on Presidents Day, too.
Are U.S. Markets Open for Presidents Day 2022?
The New York Stock Exchange and Nasdaq will be closed in observation of Presidents Day. U.S. bond markets and over-the-counter markets will also be closed. The two stock exchanges will reopen on Tuesday at 9:30 a.m., while the bond market will reopen at 8 a.m. on Tuesday.
The market closure comes as investors continue to watch the rising tensions between Russia and Ukraine. President Joe Biden warned of a very high risk of Russia invading Ukraine “within the next several days.”
U.S. stocks have fallen as investors weighed headlines from Ukraine. The S&P 500 index is down 4% over the past 30 days.
But that loss is likely a continuation of the market’s sharp selloff in early January. Investors have been skittish about the Federal Reserve’s plans to raise interest rates to combat soaring inflation. The first rate hike might arrive as early as March.
Will International Markets Be Closed for Presidents Day 2022?
The Toronto Stock Exchange will be closed on Monday, but not in honor of U.S. presidents. Some Canadian provinces, including Ontario, celebrate Family Day on Monday, a holiday for people to spend time with their families.
The Tokyo Stock Exchange will be open at normal trading hours on Monday. The exchange will be closed on Wednesday, Feb. 23, in observation of the Emperor’s Birthday.
The Shanghai Stock Exchange, Hong Kong stock exchange, and London Stock Exchange will all be open on Monday and for the rest of the week.
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Write to Evie Liu at evie.liu@barrons.com
Source: finance.yahoo.com