Raine WarrenInvestors are curious about how Veterans Day impacts the markets. Veterans Day, observed annually on November 11th, falls on a Saturday this year. However, according to the U.S. Department of Veterans Affairs, the holiday will be observed on Friday.
Stock Market Opening Hours on Veterans Day 2023
The New York Stock Exchange and the Nasdaq Stock Market will be open on Friday and closed as usual on Saturday. The bond market will also have regular hours on Friday.
International Stock Exchanges Open on Veterans Day
International markets, including those in London, Hong Kong, Tokyo, Shanghai, and Toronto, will be open on Veterans Day.
Understanding Veterans Day
Veterans Day is a federal holiday that honors individuals who have served in the United States' armed forces. Initially known as Armistice Day, this observance began in 1919 on the first anniversary of the armistice that marked the end of World War I in 1918, as stated by Britannica.
Veterans Day: Honoring Our Heroes
In a recent proclamation, President Joe Biden emphasized the unwavering faith that our veterans have, not only in our nation but also in every one of us. These selfless individuals are the very foundation of our country, and it is our responsibility to honor their sacrifices and strive for a more perfect union while safeguarding the freedoms they fought valiantly to protect.
Banking and Postal Services on Saturday
If you're wondering whether banks and the United States Postal Service (USPS) are open on Saturdays, here's what you need to know:
The USPS will be closed on Saturday. This means there will be no mail delivery or retail services during this time, as confirmed by a USPS spokesman.
While the Federal Reserve's Board of Governors is closed on Friday, Federal Reserve banks will remain open on Saturday. To find out specific information regarding private banks' Saturday hours, it is recommended to contact them directly.
Historical Performance of the Stock Market on Veterans Day
According to Dow Jones Market Data, historical data dating back to 1954 reveals that the S&P 500 has, on average, experienced a modest gain of 0.1% on November 11th. However, individual years have shown variations in performance. The best performance was recorded in 1979 with a significant rise of 2%, whereas the worst performance occurred in 2000 with a notable decline of 2.4%.
What to Expect Next Week
Looking ahead to the following week, investors can anticipate the release of earnings reports from prominent companies such as Home Depot (HD), Target (TGT), and Walmart (WMT). These reports will provide valuable insights into the current state of the consumer market as Black Friday approaches.
Let us remember the bravery and dedication of our veterans this Veterans Day while keeping their spirit alive in our pursuit of a stronger and more prosperous nation.
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