Monday, October 13 will see regular trading hours for U.S. stock markets, as they will remain open in observance of Columbus Day and Indigenous Peoples’ Day. However, the U.S. bond market is scheduled to close, as per guidelines from the Securities Industry and Financial Markets Association.
Columbus Day, which is celebrated on the second Monday in October, has been recognized as a federal holiday since 1892. Traditionally, it is marked by parades and events that celebrate Italian-American heritage. According to the Smithsonian Magazine, these festivities often emphasize the contributions of Italian-Americans to the fabric of American society.
In recent years, a growing movement has arisen to reframe this holiday due to the historical controversies surrounding Christopher Columbus and his treatment of Indigenous populations. In response to these concerns, former President Joe Biden issued a proclamation designating Indigenous Peoples’ Day in 2021, coinciding with the same date as Columbus Day. Although not officially recognized as a federal holiday, Indigenous Peoples’ Day is celebrated in various cities and states across the nation.
Following a market closure for Labor Day on September 1, stock trading will continue normally until late November. The next scheduled market closure will be on Thanksgiving Day, November 27.
This year, the dynamics surrounding Columbus Day and Indigenous Peoples’ Day reflect the ongoing discussions about historical figures and the narratives that shape American history. While Columbus Day remains a federal holiday, the emergence of Indigenous Peoples’ Day signifies a shift towards recognizing the rights and histories of Indigenous communities. The stock market’s decision to remain open is in line with the practices observed by many financial institutions during federal holidays, as it continues to operate within a busy trading environment.
