Will Markets Be Closed For Presidents Day? Here's What Investors Should Know

The third Monday of February is ‘Presidents’ Day’ in the U.S. It is a federal holiday observed in the country as most banks and government offices along with NYSE and Nasdaq remain closed.

What Happened: Presidents Day, honors two of America’s most influential leaders, George Washington, whose birthday is Feb. 22nd, and Abraham Lincoln, born on Feb. 12th.

Washington’s birthday holds the distinction of being the first federal holiday commemorating an individual’s birth. Established in 1885, it originally fell on Feb. 22nd. However, the Uniform Monday Holiday Law of 1971 shifted the observance to the third Monday in February. This placement, between the birthdays of Washington and Lincoln, led to the holiday’s common name, Presidents Day.

What Will Remain Closed: Here’s a list of services that shall remain closed on Monday, Feb. 17.

Financial Markets: The New York Stock Exchange (NYSE), Nasdaq, and U.S. bond markets will be closed.

Banking: Most banks and government offices in the U.S. will be closed.

Chicago Mercantile Exchange (CME): The CME will operate with modified trading hours. The closures and modified hours across various segments at CME can be checked here.

Cues From The Last Session

U.S. markets closed mixed on Friday. Information technology, communication services, financials, and energy sectors ended on a positive note, whereas consumer staples, healthcare, and utilities fell the most.

The Dow declined 0.37% or 165 points to end at 44,546.08, whereas the S&P 500 dropped below the flatline by 0.0072% to close at 6,114.63, the exchange-traded fund tracking it SPDR S&P 500 ETF Trust SPY fell 0.0049%.

The Nasdaq 100 gained 0.38% to close at a record high of 22,114.69 as Meta Platforms Inc. META advanced for the 20th session. The ETF tracking the index, Invesco QQQ Trust, Series 1 QQQ closed 0.42% higher.

The small-cap gauge, Russell 2000 closed 0.097% lower at 2,279.98 points.

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