In observance of the Fourth of July holiday, the New York Stock Exchange and Nasdaq, the two largest stock-trading venues in the U.S., will be closed on Tuesday. Equity traders will also have a shortened trading session on Monday, the first trading session of the second half of/2023, as the exchanges will close three hours early at 1 p.m. Eastern Time.
Bond traders will also have the opportunity to enjoy some time off, as Sifma, the Securities Industry and Financial Markets Association, recommends a close in fixed-income trading to observe the July 4 holiday. Bond trading will conclude an hour early on Monday at 2 p.m. Eastern Time.
The first half of/2023 concluded on a positive note for U.S. stocks, with the S&P 500 recording its highest close since April 20, 2022, and the Nasdaq Composite achieving its largest first-half gain since 1983. The Dow Jones Industrial Average also reached its highest close since June 15.
On Friday, Treasury yields remained relatively unchanged, while the previous day saw 2-year and 10-year Treasury yields reaching their highest levels in over three months. Notably, bond yields move inversely to prices.
As Tuesday marks the 247th anniversary of the ratification of the Declaration of Independence, it is important to note the closures and openings of various establishments.
