Investors might be wondering how the markets are affected by Veterans Day.
Market Performance
The holiday, which is observed annually on Nov. 11, falls on Saturday this year. But according to the U.S. Department of Veterans Affairs, the holiday will be observed Friday.
The Dow Jones Industrial Average entered Friday up 2.3% this year, the S&P 500 has gained 13%, and the Nasdaq Composite has risen 29%.
Stock Market Schedule
Is the Stock Market Open Friday for Veterans Day 2023?
The New York Stock Exchange and the Nasdaq Stock Market will be open Friday—9:30 a.m. Eastern time to 4 p.m.—and be closed as usual on Saturday. The bond market also will have regular hours Friday.
International Stock Exchanges
Are International Stock Exchanges Closed on Friday?
International markets—including those in London, Hong Kong, Tokyo, Shanghai, and Toronto—will be open.
Understanding Veterans Day
What Is Veterans Day?
A federal holiday, Veterans Day honors people who served in the United States’ armed forces. Originally known as Armistice Day, the observance began in 1919 on the first anniversary of the armistice that ended World War I in 1918, according to Britannica.
Veterans Day: Honoring the Faith of our Veterans
“This Veterans Day, may we honor the incredible faith that our veterans hold, not just in our country but in all of us,” proclaimed President Joe Biden. He emphasized that veterans are the sturdy backbone of the nation, and it is essential to be worthy of their sacrifices by striving for a more perfect Union and safeguarding the freedoms they fought to defend.
Postal Services on Saturday
On Saturday, the United States Postal Service will remain closed, thereby suspending mail delivery and retail services, as confirmed by a USPS spokesman. However, the Federal Reserve’s Board of Governors will be closed on Friday but open on Saturday, as mentioned on the Fed’s website. Private banks may have varied Saturday hours, depending on the respective company.
Historical Stock Market Performance on Veterans Day
Historical data from 1954 reveals that the S&P 500 has averaged a gain of 0.1% on November 11, according to Dow Jones Market Data. The best performance occurred in 1979, with a 2% increase, while the worst performance was recorded in 2000, witnessing a 2.4% decline.
Upcoming Earnings Reports
Looking ahead to next week, market watchers should anticipate earnings reports from major companies like Home Depot (HD), Target (TGT), and Walmart (WMT), among others. These reports will provide valuable insights into the state of consumer sentiment leading up to the highly anticipated Black Friday shopping extravaganza.