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Business News/ Markets / Stock Markets/  Memorial Day: US market to remain closed on Monday

The US stock market will remain closed for trading on Monday, May 29, on account of Memorial Day. The US bond market will also be shut due to the holiday.

As Memorial Day is the US stock market holiday, the New York Stock Exchange and the Nasdaq will be closed for trading on Monday, May 29. The US markets will now open on Tuesday.

The next US stock market holiday will be for Juneteenth on June 19, 2023.

US Memorial Day is a federal holiday, observed on the last Monday of May every year, aimed at honouring and mourning the loss of the US military personnel who died while serving in the United States Armed Forces.

Memorial Day was declared a national holiday through an act of Congress in 1971. The day is meant to establish a way to set aside some time to honour the troops who had given their lives in service to America.

Also Read: US Memorial Day: What's open and closed on May 29. Full list

Along with Wall Street, most banks and financial institutions will also remain closed on Monday on account of Memorial Day.

All US government offices, US Postal Services and other major courier services like FedEx and UPS will be closed on the occasion of Memorial Day.

On Friday, the US stock market ended higher amid progress in the US debt ceiling talks and a rally in the chip stocks fuelled by optimism over artificial intelligence.

The Dow Jones Industrial Average rose 1% to 33,093.34, while the S&P 500 gained 1.30% to end at 4,205.45. The tech-heavy Nasdaq rallied 2.19% to close at 12,975.69.

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Updated: 29 May 2023, 08:30 AM IST
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