Is the stock market closed on Martin Luther King Jr. Day?
The first real holiday of the year is upon us in the form of Martin Luther King Jr. Day. Because of the fact that it is a federal holiday celebrated around the nation, no U.S. stock markets will be opening their doors or ringing their bells on this day.
The day is an important historical achievement that celebrates Martin Luther King Jr.’s birthday, which took place on January 15. Although Monday will be January 16, the holiday is celebrated on a week day in order to take the day off and commemorate King Jr’s social achievements.
He helped to revolutionize the nation socially in the 1960s, helping to abolish oppressive Jim Crow laws and advancing the rights of black people, as well as citizens of any ethnic and racial background.
It wasn’t until the year 2000 that Martin Luther King Jr. Day was honored in all 50 states. However, the holiday was first signed into law in 1983 when then-President Ronald Reagan passed it.
The holiday was first observed three years later, in 1986. Some states initially refused to celebrate Martin Luther King Jr. Day as a holiday, while others celebrated it while using a different name.
The 2017 edition of the day will be very important as it will be the last version of it with President Obama on board, who put plenty of work into advancing the country socially.