The only fireworks investors could see Tuesday may be the ones in their backyards, rather than on the stock exchange.
All three major U.S. indexes have made gains this year, even as the market has grappled with inflation and high interest rates. The
S&P 500
and the
Nasdaq Composite
have gained 16% and 32%, respectively, so far this year as of Monday’s close. The
Dow Jones Industrial Average,
meanwhile, is up 3.8% in 2023.
The gains are built on a strong second quarter, which ended last week. The S&P 500 gained 8.3% in trading from April to June, while the Nasdaq rose 12.8%.
Here is what to expect this week:
Is the Stock Market Open on July Fourth?
The New York Stock Exchange and the Nasdaq Stock Market will be closed on Tuesday in observance of Independence Day, which is a federal holiday. Bond markets, as well as the CME Global futures and options exchanges, will be shut on July 4, too.
U.S. markets will reopen on Wednesday at 9:30 a.m. Eastern.
Are International Stock Markets Closed Today?
July 4 will mark the 247th anniversary of the U.S. declaring independence from Great Britain in 1776. Since Independence Day is mainly celebrated in the U.S., the London Stock Exchange and all other European markets will remain open.
The Hong Kong, Tokyo, and Shanghai stock exchanges are also open.
How Has the Stock Market Performed After Independence Day?
The S&P 500 has seen gains in the week after the Fourth of July each consecutive year since 2018—a welcome positive streak after the index posted losses for all but three post-Independence Day weeks from 2006 to 2017.
Longer-term market outlooks for after the holiday have been mixed over the years. The S&P 500 finished in the red the month after the July Fourth for much of the late 20th and early 21st centuries. But the index pivoted to a more positive postholiday market trend in 2012—and has charted gains one and two months after Independence Day for eight of the last 10 years.
What Should I Watch This Week?
Levi Strauss
(ticker: LEVI),
National Beverage
(FIZZ),
Nurix Therapeutics
(NRIX), and
Barnes & Noble Education
(BNED) will report earnings this week. Unemployment and wage data for the month of June, as well as international trade data, is also slated to be released.
Write to editors@barrons.com
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