As the Independence Day holiday approaches, Americans are preparing for a long weekend of barbecues and fireworks shows to celebrate the founding of the United States.
During the extended holiday weekend, both bond and stock markets will be closed on Monday July 4, while bond traders can enjoy an extra half-day off heading into the holiday weekend.
Bond traders, meanwhile, will receive an extra few hours of holiday, as the Securities Industry and Financial Markets Association recommends an “early” close at 2 p.m. Eastern Time on Friday. Bond trading will then be closed for the holiday on Monday, July 4.
The holiday falls just after the end of what has been a brutal first half of the year for stock and bond markets. The S&P 500 is on track to log its worst first-half performance in 52 years, while the Nasdaq Composite has seen its worst first-half performance on record.
U.S. stocks were on track Thursday for another round of losses, with the S&P 500 SPX, +1.06% on track for a roughly 21% fall since the start of the year, while the Dow Jones Industrial Average DJIA, +1.05% has fallen 15.7%, and the Nasdaq COMP, +0.90% was down 29.4%.