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This article provides an incite into the expected market activity for the Memorial Day 2021.
To those keeping track of the United States’ stock market, it is pertinent to get a view of the market activities per the hours opened today. In retrospect, the US markets are usually closed for any form of trading on national public holidays, and this year’s Memorial Day is not an exception.
Memorial Day is a public holiday dedicated to celebrating Army officials who died while serving in the United States military. It became recognized back in 1971 and the last Monday of the month of May was designated for the Holidays. This year’s version coincidentally fell on the last trading day of the month.
The holidays will automatically grant Americans an extended weekend as a reflection on the past month’s market performance is brought to the fore. As Coinspeaker reported earlier, the major US stock indices managed to ink a positive growth in the month of May. While the S&P 500 (INDEXSP: .INX) grew 0.077% to 4,204.11 on Friday bringing its monthly gains to 0.6%, the Dow Jones Industrial Average (INDEXDJX: .DJI) recorded a growth of 0.19%, adding 64.81 points to close the day at 34,529.45 and the month at 1.9%. The Nasdaq Composite (INDEXNASDAQ: .IXIC) also closed the session up with a 0.091% growth to 13,748.74, while closing the current month on a bearish note at 1.5%, its lowest record in 7 months.
At present, the following bourses are closed; the Nasdaq Global Select Market, the New York Stock Exchange, as well as US over-the-counter markets. The markets are billed to resume activities on Tuesday, June 01, 2021, at 9:30 a.m. EDT.
What International Stock Market Is Open Today?
Every sovereign country has their own markets which operate independently of their American counterparts. As such, the Memorial Day Holidays are not affecting international markets including the Tokyo Stock Exchange, the Toronto Stock Exchange, and the Hong Kong Stock Exchange amongst others. The London Stock Exchange is however closed for a bank holiday.
The US market, and to an extent, the global economic ecosystem is awaiting some key events slated for this week. Amongst these, the US job data for the month of May and scheduled to be unveiled on Friday is key. A lower job loss or high recovery rate is an indication that the economy is truly getting back on its feet post-pandemic. The global markets are also anticipating the OPEC+ meeting in which policymakers will decide on the move to ramp up oil production.
COVID-19 Vaccine Making All the Difference
The vaccination programs in most countries are making a difference in helping to lead normal lives post-pandemic. Vaccinated individuals are now allowed to gather in public places such as sports events and theatres. In the US, the Centers for Disease Control and Prevention (CDC) has given clearance to inoculated citizens to celebrate the Memorial Day Holiday unhindered whilst maintaining its guidance of masking for those yet to receive the vaccine shots.
“If you are vaccinated, you are protected, and you can enjoy your Memorial Day,” said CDC Director Dr. Rochelle P. Walensky, according to the New York Times. “If you are not vaccinated, our guidance has not changed for you, you remain at risk of infection. You still need to mask and take other precautions.”