Is the stock market closed on Friday for a new federal holiday?
U.S. stock exchanges will remain open on Friday even though President Joe Biden signed a bill that will add Juneteenth, which commemorates the date in 1865 when slaves in Texas first learned of the Emancipation Proclamation, as the 11th federal holiday. The Juneteenth National Independence Day Act was passed by Congress this week, with the lodge and Senate both passing it a few days before the June 19 date marking the historic event. It is the first federal holiday created since Martin Luther King Jr. Day became law in 1983. Federal workers will observe June 17 on Friday of this year, as June 19 falls on a Saturday. Markets are expected to remain open on Friday due to the speed with which the legislation was passed by Congress, according to people familiar with the matter. The New York Stock Exchange and the Nasdaq will be open on Friday, the people said. But the exchanges will participate in industry discussions in the coming months to assess the closing of the markets for the holidays in 2022 and beyond, they added. People requested anonymity because discussions on changes to trading schedules and their closure for the holidays of June 17, 2022 have not yet been made public. The exchanges are expected to change their rules and add June 19 to a list of statutory holiday closing dates and submit those changes to the Securities and Exchange Commission. Bond markets will also be open on Friday, and any changes in operations will go into effect next year. Since June 19 falls on a Saturday, the Fedwire Funds Service, a settlement system operated by Federal Reserve banks, will remain open, according to the Securities Industry and Financial Markets Association (SIFMA), which makes recommendations for closure. bond markets. 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