S&P 500, Nasdaq hit record closing highs amid trade deal hopes
All three major U.S. stock indexes posted weekly gains, and the tech-heavy Nasdaq confirmed it entered a bull market since its post-“Liberation Day” trough on April 8. Lisa Bernhard has more.
- The stock market closes early on Thursday and remains closed on Friday, July 4.
- The closure is the last one until Labor Day weekend.
While American celebrate the Fourth of July, financial markets are taking a long weekend as well.
The New York Stock Exchange closed at 1 p.m. July 3 and will remain closed throughout the weekend, reopening on July 7.
Additionally, the U.S. bond market closed at 2 p.m. on July 3 and will remain closed on July 4, according to the Securities Industry and Financial Markets Association.
Independence Day, Friday, July 4th, is listed as one of 11 federal U.S. holidays, according to the U.S. Office of Personnel Management, and because it falls on a Friday this year, many Michiganders will have a long weekend.
After shuttering for the Fourth of July, it will be business as usual on Wall Street until early September. The next scheduled stock market closure is on Monday, Sept. 1, in observance of Labor Day.
State offices, banks and some grocery stores in Michigan will be closed for the holiday.
Here’s what to know about the stock market closure on Independence Day in Michigan:
When do the stock markets close in Michigan?
The New York Stock Exchange closed at 1 p.m. Thursday July 3 and remains closed Friday, July 4. It will reopen Monday.
What is the Dow Jones?
The Dow Jones Industrial Average (DJIA) tracks America’s biggest and most established publicly owned blue-chip companies on the New York Stock Exchange and NASDAQ.
According to Investopedia, the Dow Jones is named after Charles Dow, who created the index in 1896 with his business partner, Edward Jones.
What is the S&P 500?
The Standard & Poor’s 500 Index is a weighted index of 500 leading publicly traded companies in the U.S.
It’s not an exact list of the top 500 U.S. companies but is regarded as one of the best gauges of the stock market overall, Investopedia says.
What is the Nasdaq?
The National Association of Securities Dealers Automated Quotations (NASDAQ) is an electronic marketplace for buying and selling securities. Most of the world tech giants are listed on the NASDAQ, according to Investopedia.
What is the NYSE?
The New York Stock Exchange is “capitalism at its best, the belief that the free and fair markets offer every individual the chance to benefit from success,” the public entity says on its website.
Dating back to 1792, it’s the largest stock exchange in the world based on total market capitalization of its listed securities.
Jalen Williams is a trending reporter at the Detroit Free Press. Contact him at [email protected].
