America’s financial markets will pause Monday in commemoration of Presidents’ Day, which, technically, is not the name of the holiday. The New York Stock Exchange and the Nasdaq will close on February 15. And the Association of the Securities Industry and Financial Markets, or Sifma, recommends not trading in dollar-denominated securities, which means that the 10-year Treasury note TMUBMUSD10Y, 1,156%. – as well as interest rates for money markets and certificates of deposit – will join the Dow Jones Industrial Average DJIA, -0.02%, the S&P 500 SPX index, + 0.17% and the Nasdaq Composite Index COMP, + 0.38% in status static.
And futures and options trading on CME Group CME, the -1.34% exchanges will also stop on Monday. In other words, there will be no settlements when trading GCJ21 gold futures, -0.30% or CL.1 crude, -0.84%. However, traders will be able to trade commodities on the Globex platform, with a pause starting at 1pm ET. So, here’s the skinny on so-called Presidents’ Day. Congress declared Washington‘s birthday a holiday in 1879, according to the Library of Congress. The first president of the republic was born on February 22, 1732. Various sources indicate that the holiday was originally only celebrated in the District of Columbia, but was widely recognized as a federal holiday in 1885, marking the first time that a American individual was commemorated through a public holiday. The Uniform Vacation Act of 1968 changed the commemoration day to the third Monday in February. The Library of Congress website says that the day’s designation was never formally changed to Presidents’ Day, but it is often referred to by that name because February 12 is the birthday of the 16th president of the United States, Abraham Lincoln. . The holiday is still known as Washington’s birthday, and it is recognized by that name on ICE, owned by the Intercontinental Exchange Inc., -0.32% New York Stock Exchange. It is that history of recognizing, initially, one president and then later two presidents, or the presidency in general, that may be to blame for the variations in style that tend to occur in written references to Presidents’ Day, or alternatively, to Presidents’ Day. or Presidents’ Day. Presidents’ Day is the style preferred by creators of journalistic standards such as the Associated Press Stylebook (whose Twitter account tends to tweet a reminder annually) and The Wall Street Journal style guide. Meanwhile, Canadian markets are closed in observance of Family Day, which coincides with Presidents’ Day in the US and falls on the third Monday in February. Trading in European markets and movements in benchmark indices such as the Stoxx Europe 600 SXXP, + 0.46% and the UK FTSE 100 UKX, + 0.07%, are scheduled to start as usual on Monday. However, Asian markets will be mostly closed for the Lunar New Year, turning the page from the COVID-affected Year of the Rat to the Year of the Ox, which officially began on February 12. The Shanghai SHCOMP Composite Index, + 1.43%, the CSI 300 000300, + 2.14%, the Shenzhen Composite Index 399106, + 1.75% and the Hong Kong Hang Seng Index HSI, + 0.45% will be closed on Monday. China stock markets are paused from February 11-17, while Hong Kong markets will be closed from Friday to Monday. The Asian and US markets have been gaining ground in hopes of better economic times as the world tries to recover from the COVID-19 pandemic that was first identified in December 2019 and has since sparked 108 million cases worldwide, 27 million in the US, along with 475,000 deaths in the United States, according to data compiled by the Johns Hopkins University of Medicine.