Is the stock market open on Presidents' Day?
Traders will get some time off from the stock market today, in observance of Washington’s Birthday, also known as Presidents’ Day, which is traditionally celebrated on the third Monday of February.
The U.S. bond market, as well as the metals and commodities market – including for Nymex crude oil and Comex-traded gold – will also be closed, though stock futures are active. There’s not much movement, but at the time of writing, contracts linked to the Dow (INDU) and S&P 500 (SPX) were down 0.3% and 0.2%, respectively, while Nasdaq futures (NDX:IND) were ahead by 0.1%.
Investors continue to debate market direction amid an ongoing batch of mixed economic data, including last week’s consumer price index report. Meanwhile, retail sales numbers showed that consumers increased their spending in nearly every category the government tracks, though the producer price index came in hotter than expected.
Recent speeches from Fed policymakers have also caused some market jitters. “My overall judgment is it will be a long battle against inflation,” St. Louis Fed President James Bullard told reporters, while the Cleveland Fed’s Loretta Mester even saw a “compelling case” for a 50-basis-point increase at the central bank’s meeting at the end of January.
Stay ahead of the curve and check out some of this week’s actionable events with Seeking Alpha’s Catalyst Watch. Also don’t forget to explore SA’s comprehensive guide to Stock Market Holidays.
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