Is the stock market open on Memorial Day? The answer to this question is no. The stock market will be closed Monday, May 29, for Memorial Day.
The federal holiday, which was originally known as Decoration Day, honors fallen military personnel. Memorial Day also serves as the unofficial start of summer.
Peter McNally, global sector lead for industrials, materials and energy at research firm Third Bridge, says the drivers for summer leisure travel are strong this year, particularly for air travel.
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Airlines have been aggressively adding staff, and planning "has gotten easier as travelers are more prone to book in advance than during the early stages of the recovery," McNally says. However, the strategist notes that for the time being, "driving is the safer (and cheaper) bet," as gas prices are down about 20% from where they were a year ago.
But while summer travel is a nice reprieve for investors to look forward to, there are plenty of uncertainties that could create headaches in the meantime. Just days after Memorial Day, the U.S. is at risk of defaulting on its financial obligations if lawmakers don't raise the debt ceiling. Plus, the next Fed meeting is later this month. As of this writing, Fed funds futures are pricing in a roughly 73% probability the central bank will pause hiking interest rates, according to CME Group.
Bond traders will get a long weekend, too, and then some. Not only is the bond market closed on Monday, May 29, for Memorial Day, but it closes early at 2 pm Eastern on Friday, May 26.
For those wondering what time does the market open for regular trading hours, both the Nasdaq Stock Market and the New York Stock Exchange (NYSE) run from 9:30 am to 4:00 pm Eastern time Monday through Friday.
Are banks open on Memorial Day? The answer to that question is no. Monday, May 29, is one of several bank holidays in 2023, and so banks will be closed on Memorial Day.
Below, we feature a full schedule of all stock market and bond market holidays for 2023. Please note that the list of stock market holidays actually grew by one day in 2022. That's because Congress voted in 2021 to make Juneteenth – the June 19 holiday commemorating the end of slavery – the 11th federal holiday. When President Joe Biden signed the bill, Juneteenth became the first new federal holiday since Martin Luther King Jr. Day in 1983.
2023 Market Holidays
| Date | Holiday | NYSE | Nasdaq | Bond Markets* |
|---|---|---|---|---|
| Monday, Jan. 2 | New Year's Day (Observed) | Closed | Closed | Closed |
| Monday, Jan. 16 | Martin Luther King, Jr. Day | Closed | Closed | Closed |
| Monday, Feb. 20 | Presidents' Day/Washington's Birthday | Closed | Closed | Closed |
| Thursday, April 6 | Maundy Thursday | Open | Open | Early close (2 p.m.) |
| Friday, April 7 | Good Friday | Closed | Closed | Closed |
| Friday, May 26 | Friday Before Memorial Day | Open | Open | Early close (2 p.m.) |
| Monday, May 29 | Memorial Day | Closed | Closed | Closed |
| Monday, June 19 | Juneteenth National Independence Day | Closed | Closed | Closed |
| Monday, July 3 | Monday Before Independence Day | Early close (1 p.m.) | Early close (1 p.m.) | Early close (2 p.m.) |
| Tuesday, July 4 | Independence Day | Closed | Closed | Closed |
| Monday, Sept. 5 | Labor Day | Closed | Closed | Closed |
| Monday, Oct. 9 | Columbus Day | Open | Open | Closed |
| Friday, Nov. 10 | Veterans Day | Open | Open | Closed |
| Thursday, Nov. 23 | Thanksgiving Day | Closed | Closed | Closed |
| Friday, Nov. 24 | Day After Thanksgiving | Early close (1 p.m.) | Early close (1 p.m.) | Early close (2 p.m.) |
| Monday, Dec. 25 | Christmas Day | Closed | Closed | Closed |
* This is the recommended bond market holiday schedule from the Securities Industry and Financial Markets Association (SIFMA). This schedule is subject to change.
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