Both the New York Stock Exchange and Nasdaq will be closed on Monday 21 February for Presidents day. All trading on US stocks will recommence on Tuesday 22 February at 9:30am while the Bond market will open at 8:00 am.
The federal holiday Presidents’ Day, is celebrated on the third Monday of February to honor all presidents who served in office. The market break comes as Russian and Ukraine tensions remain at an all time high. The conflict has hurt investor confidence, with the SP 500 down 10% and the Dow Jones down 6% YTD respectively.
Short term technicals suggest the market has more to give over the coming days as the US continue to monitor military movements from Russia on the Ukraine border. If a bleak earnings season wasn’t enough to hinder investor morale, further escalation from Russia would likely impede any optimism for a market recovery in February.
How do you think the market will react over the coming weeks? Let us know in the comments below.
Written by Tyger Fitzpatrick, Founder of Youth Investment Group.
The information above is not financial advice. Youth Investment Group has no liability for personal financial interests or investment decisions. You should make your own investment decisions based upon your own research and what you believe is best for you.
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