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Monday, 18 Feb 2019

Wall Street stock trading closes today

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News24xx.com - Wall Street is also celebrated a holiday to honor civil rights leaders traditionally observed on the third Monday in January and commemorate the life of the King, who was born January 15, 1929, and was killed on April 4, 1968. And the effects will also occur on the US stock and bond market.

This closing to celebrate the Martin Luther King Jr. day, gave a break after a bullish slope on Wall Street to start 2019.



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Market closure for King's birthday is a relatively new development.

When the holiday was signed into law by President Ronald Reagan in 1983 and was officially founded in 1986.

But the New York Stock Exchange and other major exchanges remained open, even though they observed a minute of silence during the day.



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It was only on January 19, 1998, that the NYSE and Nasdaq first said they would take a full day's leave.

The Securities Financial Industry and Market Association, Sifma, has recommended that there is no trade in US dollar-denominated bonds, including the 10-year Treasury bonds TMUBMUSD10Y, + 0.00% in the US, and in the US and Japan, as quoted marketwatch.com.

The King’s holiday came when part of the government was closed. It centers on President Donald Trump's request to fund the US-Mexico border wall in return for his signature on legislation to fund federal institutions and departments that are closed and have become the longest closure on record, entering the 31st day of the King's holiday.

Throughout this January, the market has eliminated the risk of a shutdown to the wider economy, but strategists and economists say that the longer the shutdown takes place, the greater the negative economic impact and the higher the likelihood that the market will react.

 

 

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