Columbus Day, also known as Indigenous Peoples Day, is observed every year on the second Monday in October to commemorate the landing of Christopher Columbus in the New World on October 12, 1492.
What happened: Columbus Day is a federal holiday on which most banks, the US Postal Service, government institutions, including libraries and government offices, and the bond market will remain closed.
However, the exchange will be open for regular trading hours on Monday, October 10, 2022, as will the commodity markets. The regular trading session in the stock market lasts between 9:30am ET and 4:00pm ET, although premarket trading occurs between 4:00am ET and 9:30am ET. An after hours trading window is available between 4pm ET and 8pm ET.
See also: How does the exchange work
Why it matters: Trading volume on Columbus Day could be low, adding to the volatility of the already battered market. The equity The market has had a year that many would like to forget amid multiple headwinds, including macroeconomic uncertainty.
In 2021, Columbus Day fell on October 11 and the broader S&P Index fell about 0.7%. However, the holiday marked a turning point from which stocks rallied into year-end.
This time, investors are approaching the earnings season, which is set to begin shortly after Columbus Day, with apprehension. However, better than feared results could inspire some confidence and trigger an upward move in the market from the current low levels.
Photo: Courtesy of Rosie Tulips on flickr
