Columbus Day is here. The
index will look to build on two weeks of gains, capped off by its best week since early July.
The S&P 500 and
Dow Jones Industrial Average
rose 3.8% and 3.3% respectively last week. Investors are holding out hope that Democrats and Republicans can reach a deal and get much-needed stimulus for airline workers, small businesses, and those still on unemployment.
Is the Stock Market Open on Columbus Day 2020?
Unlike the U.S. Postal Service, some schools, and your local trash services, the New York Stock Exchange and Nasdaq are open today for Columbus Day. U.S. bond markets, however, are closed for the federal holiday. While you won’t be receiving mail today,
both of which are private businesses, are open on Columbus Day 2020. Most banks are closed today as well since Columbus Day is considered a bank holiday.
Are International Stock Markets Closed Today?
International markets are largely open, although the Toronto Stock Exchange is closed for Thanksgiving in Canada.
Since 1990, the S&P 500 index has averaged a gain of 0.6% on Columbus Day, according to Dow Jones Market Data. The index’s biggest Columbus Day move during that period was in 2008, when it gained about 11.6%, and it’s moved more than 1% on the holiday six times since 1990. The S&P 500 has ticked down slightly the past three Columbus Days.
The stimulus talks have been a bit of a roller coaster, with both sides contributing to on-again-off-again negotiations ahead of a contentious election season and Supreme Court nomination. If that sounds familiar, it may because stocks were reacting similarly around the holiday last year, as investors digested the U.S.’s volatile trade talks with China.
This time around, the negotiations are domestic, with Republicans and Democrats sparring over the size of a relief bill. Still, investors are hoping it isn’t a repeat of trade talks, which dragged on into December and wasn’t signed until January.
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