In observance of the Fourth of July holiday, the two largest stock-trading platforms in the U.S., the New York Stock Exchange, and Nasdaq, have announced closure on Tuesday.
Additionally, the first trading session of the second half of 2023, which falls on Monday, will see the exchanges shutting down three hours earlier at 1 p.m. Eastern Time, providing equity traders some break time.
The Securities Industry and Financial Markets Association (Sifma) also suggests that bond traders join the July 4 observance with an early close in fixed-income trading. Monday’s bond trading is suggested to terminate an hour earlier at 2 p.m. Eastern Time.
U.S. stocks ended the first half of 2023 with 14-month highs on Friday. The S&P 500 SPX recorded its peak close since April 20, 2022, per Dow Jones Market Data, increasing by 53.94 points, equivalent to 1.2%, to 4,450.38. The Nasdaq Composite COMP marked June by posting its largest first-half ascension since 1983.
On Friday, the Dow Jones Industrial Average DJIA concluded the first half at 34,407.60, its peak close since June 15, with a gain of 285.18 points or 0.8%.
Friday witnessed little fluctuation in Treasury yields. However, FactSet data suggests that just a day before, 2-year and 10-year Treasury yields concluded at their peak end-of-day levels in over three months. Bond yields operate contrarily to prices.
The yield on the 2-year Treasury note TMUBMUSD02Y recorded a minor shift on Friday, finishing at 4.877% as opposed to the previous day’s 4.876%. Meanwhile, the yield on the 10-year Treasury note TMUBMUSD10Y fell by 3.5 basis points to wrap up Friday at 3.818%, compared to 3.853% on Thursday afternoon.
As we approach the 247th anniversary of the Declaration of Independence ratification this Tuesday, MarketWatch’s Charles Passy has compiled a list of what’s open and what’s not.
