Is The Market Open On Juneteenth?

Juneteenth, short for “June Nineteenth,” is a day of historical significance for the U.S. that is on June 19.

The event commemorates June 19, 1865, just after the Civil War ended when Union General Gordon Granger arrived in Galveston, Texas, and announced the end of enslavement for Black people, two and a half years after President Abraham Lincoln signed the Emancipation Proclamation.

The U.S. bond market, NASDAQ and New York Stock Exchange (NYSE) are closed in observance. Trading ended 4 p.m. ET on Tuesday, June 18, and will open at 9:30 a.m. ET on Thursday, June 20.

Juneteenth commemorates the day the last remaining enslaved Blacks in the Confederate States were liberated. It is celebrated as a symbol of freedom and called the nation’s second Independence Day.

The celebration of Juneteenth has its roots in Black communities in Texas, where it has been observed annually since 1866. Over the decades, it has grown in prominence, with festivities including parades, cookouts, family reunions and educational events that honor Black culture and history. Despite its long-standing cultural importance, Juneteenth remained largely unrecognized as a national holiday for much of its history.

This changed in 2021 when President Joe Biden signed the Juneteenth National Independence Day Act into law on June 17, making Juneteenth a federal holiday. The decision to make Juneteenth a federal holiday came amid a broader national reckoning with issues of racial injustice and inequality, following widespread protests in 2020.

The establishment of Juneteenth as a federal holiday acknowledges its historical importance and ensures the nation pauses to remember and reflect on the enduring impact of enslavement and the ongoing struggle for civil rights.

Read Next: Fed Members Cool On Raising Interest Rates: ‘These Conditions Could Take Months, And More Likely Quarters To Play Out’

Photo: khema sok from Pixabay