Traders will get some time off from the stock market today, in observance of Washington’s Birthday, also known as Presidents’ Day, which is traditionally celebrated on the third Monday of February.
The U.S. bond market is closed as well, meaning no trading in the closely-watched 10-year Treasury note. The benchmark has taken on increased importance in recent months as the Fed debates the scale and speed of tighter monetary policy to combat red-hot inflation.
Metals and commodities market – including for Nymex crude oil and Comex-traded gold – will also be closed today, though futures are active. Contracts linked to WTI crude oil fell under $90 early Monday, while those linked to the Dow, S&P 500 and Nasdaq caught a bid as President Biden and Russian leader Vladimir Putin agreed ‘in principle’ to a summit over Ukraine.
The risk-on attitude is spreading to crypto markets (which never take a day off), with Bitcoin last changing hands up 2% at $39,033, though the sentiment could also be upended by the developments surrounding Ukraine.
See Seeking Alpha’s comprehensive guide to Stock Market Holidays. Also stay ahead of the curve by checking out some of this week’s actionable events with Seeking Alpha’s Catalyst Watch.