As American families gather to celebrate Independence Day, many investors and traders are curious about the market schedule for the July Fourth holiday.
Here's a concise guide to help you navigate the trading week around this holiday.
Market Schedule Overview Around Independence Day
The U.S. stock markets, including the New York Stock Exchange (NYSE) and the NASDAQ, will be closed on Thursday, July 4, 2024, in observance of Independence Day.
Additionally, it's important to note that both the NYSE and NASDAQ also observed an early closure on Wednesday, July 3, 2024. Trading ended at 1:00 PM Eastern Time (ET).
The bond markets, including the Securities Industry and Financial Markets Association (SIFMA), will follow a similar schedule. The bond markets closed early at 2:00 PM ET on July 3 and will remain closed on July 4.
While the U.S. markets will be closed, international markets will follow their respective schedules. European and Asian markets, for example, will operate on their normal trading hours. Foreign exchange markets will remain open.
Thin trading volumes and liquidity in international markets are common on days when Wall Street is closed.
FTSE 100 And UK Elections
On July 4, 2024, the United Kingdom will be holding parliamentary elections.
Despite the relevant political event, the London Stock Exchange (LSE) and the FTSE 100 Index will remain open for trading. The FTSE 100 operates on its normal schedule and will not be closed due to the elections. This provides investors with the opportunity to trade as usual.
However, U.S.-based exchange-traded funds tracking UK stocks, as theiShares MSCI United Kingdom ETFEWU, will not be trading.
Normal Trading Hours Resume Friday: All Eyes On US Labor Market
Trading will resume as usual on Friday, July 5, 2024. Both the NYSE and NASDAQ will operate on their normal schedules. They will open at 9:30 AM ET and close at 4:00 PM ET.
Traders will be particularly attentive on Friday, July 5, as the Bureau of Labor Statistics (BLS) is set to release its jobs report for June at 8:30 AM ET.
In this preview, we highlighted that analysts predict that both employment and salary growth in June will show a deceleration compared to previous months.
Nonfarm payrolls are predicted to decline from 272,000 in May to 189,000 in June. Average hourly earnings are anticipated to rise by 0.3%, down from May's 0.4%.
However, conflicting data from different surveys suggests potential surprises.
The last jobs report for May, published on June 7, triggered a sharp rise in Treasury yields, sending the iShares 20+ Year Treasury Bond ETF TLT down by 1.8% on that day. U.S. stocks ended the session broadly flat, with the SPDR S&P 500 ETF TrustSPY unchanged and the tech-heavy Invesco QQQ TrustQQQ down 0.1%.
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