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Wall Street Closes for Martin Luther King Day

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The New York stock exchanges remain closed on Monday due to Martin Luther King Day. The rest of the week is traded on Wall Street.

 

The day in honour of the American pastor and political activist of the same name has been a public holiday since 1986. It falls annually on the third Monday of January, around King’s birthday.

People who work for the government have this day off. Not all companies give their employees time off. Shops and restaurants are usually open as usual, although this is different now in times of crisis.

From Tuesday, the shortened exhibition week will mainly be dominated by the transfer of power in the United States and the further developments around the coronavirus.

The earnings season in the United States started last week, with results from the major American banks. This week it’s the turn of online video service Netflix and chipmaker Intel and technology group IBM.

The stock exchanges in New York entered the long weekend with a loss on Friday. The Dow Jones index ended 0.6 percent in the negative at 30,814.26 points. The broad S&P 500 fell 0.7 percent to 3768.25 points and technology exchange Nasdaq fell 0.7 percent to 12,803.93 points.

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