A number of questions have proliferated regarding this upcoming Juneteenth holiday. Specifically, many investors want to know: is the stock market closed for Juneteenth?

The answer is yes.

While Juneteenth falls on a Sunday (June 19), the market will be closed on Monday in observance of this new federal holiday. Juneteenth as a holiday has been around for a very long time. It is, per the National Park Service, the “oldest known US celebration of the abolition of the chattel slave system, and the emancipation of enslaved African Americans in Texas.” For civil rights activists, the prominence this day has received has been a big win in spreading awareness of racial injustice.

The federal government made Juneteenth a federal holiday last year when President Joe Biden signed the Juneteenth National Independence Day Act into law. And with a number of private companies jumping aboard, reports are that around 30% of the U.S. workforce will receive a day off as a result of this new holiday. With the New York Stock Exchange and Nasdaq also closed for business on Monday, that means scores of traders, analysts and investment bankers are likely to get the day off as well.

Is the Stock Market Closed for Juneteenth?

This will be the first year that the stock market will be closed to commemorate Juneteenth.

Some companies, like Nike (NYSE:NKE), will be closing their doors on Sunday to commemorate this holiday. Many other businesses are following suit.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.