With the first federal holiday of the year (aside from New Year’s) set for this Monday, Jan. 15, investors everywhere are asking: Is the stock market closed on Martin Luther King Jr. Day?
Well, in short, yes. Indeed, the stock market — which includes both the New York Stock Exchange and Nasdaq — closes on each of the major federal holidays and MLK Day is no exception. After MLK Day, the next stock market closure will then fall on Presidents’ Day, which is Monday, Feb. 19. Following this, the stock market should be open regularly until Good Friday, which falls on Friday, March 29.
Investors are hoping the long weekend may help get the stock market out of its recent slump. Equities have entered the new year on something of a sour note, locking in several particularly bad trading sessions for both the S&P 500 and Nasdaq Composite.
By the first Friday of January, the S&P had slipped more than 1.2% and the Nasdaq more than 2.5%. That said, both indices have managed to regain some composure this week. At the time of this writing, both the S&P and Nasdaq are in the green year-to-date, up 0.7% and 1.1% respectively. Still, given the pace of last year’s fourth-quarter boom, some investors are naturally a bit disappointed by this year’s mixed market.
Is the Stock Market Closed on Martin Luther King Jr. Day?
While there are nine federal holidays across the year during which the stock market is entirely closed, there are actually several partial market closures in 2024 as well.
For example, on July 3, the stock market will close at 1 p.m. Eastern while the bond market will close at 2 p.m. Eastern.
Similarly, on the Thursday before Good Friday, the bond market will actually close early at 2 p.m. Eastern, although the stock market will still operate at its full schedule.
Perhaps most odd, the stock market will remain completely open on Columbus Day/Indigenous Peoples’ Day, which is set for Monday, Oct. 14. Bond markets, however, will be closed.
On the date of publication, Shrey Dua did not hold (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.
