In observance of Veterans day, which intends to honor the service of former U.S. military personnel, some U.S. markets will be open and some closed next Monday.
The Securities Industry and Financial Markets Association (Sifma), has recommended the bond-market’s closure on Monday in line with the U.S. Treasury Department’s holiday schedule.
However, the New York Stock Exchange and Nasdaq will be open for companies in the Dow Jones Industrial Average DJIA, +0.00% , S&P 500 index SPX, +0.96% and the Nasdaq Composite Index COMP, -0.29% . Other markets for currencies and commodities, like those for gold and crude-oil, however, will also be open.
Both equity and bond markets used to be shuttered as far back as 1938, when it was a declared a national holiday under the name “Armistice Day” to honor veterans of World War One.
Later in 1954, Congress swapped out the term “Armistice” in favor of “Veterans” to recognize the service of veterans from World War II and the Korean War as well.
Veterans Day is different from U.S. Memorial Day, a public holiday in May. Veterans Day honors all military veterans, while Memorial Day honors those who have died in military service.