Memorial Day is celebrated on Monday, May 30, a holiday in the United States in honor of men and women who fell in military service that has also marked the unofficial start of summer.
U.S. financial markets, including the New York Stock Exchange, are owned by Intercontinental Exchange Inc. ICE,
and stock exchanges operated by Nasdaq Inc. NDAQ,
will remain closed on Monday.
Shares were scheduled to make big weekly gains before the holidays, with the Dow Jones Industrial Average DJIA
broke a streak of eight consecutive weekly falls, the longest since 1932, according to Dow Jones Market Data. The S&P 500 SPX,
and Nasdaq Composite COMP,
they were scheduled to end a series of seven weekly falls.
Although stocks have suffered in 2022, investors were pleased with data showing that inflationary pressures, while still exhausting, could be at their peak.
Meanwhile, bond traders get an early leap into the holidays. The Securities and Markets Association of the Financial Markets, an industry trade group, has recommended closing at 2pm east for US fixed income trading on Friday.
Treasury yields, which are moving against the price, have been declining since they reached their highest levels since late 2018 earlier this month.
There are parades and memorial services in the store, as well as family barbecues and picnics. Memorial Day also marks the start of what analysts call the “summer driving season” in the U.S., which lasts the Labor Day weekend in September.
While investors are showing some signs of optimism about inflation, the summer driving season will start with pain for motorists, with petrol pump prices at record highs or almost due to tight supply. both gasoline and distillates on both sides of the Atlantic. This has helped keep crude oil futures high and on track for strong weekly gains, with the US benchmark CL.1,
trading north of $ 113 a barrel.