Business
Banks And Stock Market Closed On June 19 For Juneteenth
Key Points
- U.S. stock markets will be closed on June 19 for Juneteenth.
- Banks and the United States Postal Service will also be closed.
- Juneteenth, a federal holiday since 2021, commemorates the end of slavery in the United States.
In observance of Juneteenth, U.S. stock markets will be closed on Wednesday, June 19, 2024, marking the second time since its recognition as a federal holiday that the financial sector will close to honor this significant day.
Both the Nasdaq and New York Stock Exchange will shut their doors, resuming normal operations on Thursday, June 20. The U.S. bond market will also observe the holiday, as confirmed by the Securities Industry and Financial Markets Association. Banks will also be closed on June 19.
While financial markets and banks will be closed, most restaurants, grocery stores, and retail outlets will continue to operate. However, banks and the United States Postal Service will suspend their services for the day.
Commemorating Juneteenth
Juneteenth, sometimes referred to as America’s Second Independence Day, commemorates the day in 1865 when Major General Gordon Granger arrived in Galveston Bay, Texas, with 2,000 Union troops. Granger’s arrival and subsequent announcement declared that more than 250,000 enslaved Black people in Texas were free, effectively enforcing the Emancipation Proclamation issued by President Abraham Lincoln on January 1, 1863. This event came two and a half years after the proclamation was signed, underscoring the prolonged struggle for freedom and equality.
The federal recognition of Juneteenth as a holiday came in 2021.
The acknowledgment of Juneteenth by the federal government has been seen as a critical step in recognizing the importance of freedom and equality for all Americans.
Impact On The Financial Markets
The closure of the banks and stock markets on June 19 signifies the holiday’s growing importance in the national consciousness. Normal banking and trading activities resuming on June 20.
Some markets, such as the cryptocurrency market, are still open for trading.
Following the Juneteenth holiday, the next scheduled closure for the stock markets will be on Thursday, July 4, in observance of Independence Day. This interval of normal operations between the two holidays allows the markets to stabilize and continue their activities without major interruptions.
Related: Stock Market Hours
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Editor: Colin Graves
The post Banks And Stock Market Closed On June 19 For Juneteenth appeared first on The College Investor.
