By Joseph Adinolfi
As the Independence Day holiday approaches, Americans are preparing for a long weekend of barbecues and fireworks shows to celebrate the founding of the United States.
During the extended holiday weekend, both bond and stock markets will be closed on Monday July 4, while bond traders can enjoy an extra half-day off heading into the holiday weekend.
Both the New York Stock Exchange , owned by Intercontinental Exchange Inc., /zigman2/quotes/209108507/composite ICE +1.09% and the Nasdaq , owned by Nasdaq Inc. /zigman2/quotes/205547889/composite NDAQ +1.87% , will be closed for trading on Monday, July 4.
Bond traders, meanwhile, will receive an extra few hours of holiday , as the Securities Industry and Financial Markets Association recommends an “early” close at 2 p.m. Eastern Time on Friday. Bond trading will then be closed for the holiday on Monday, July 4.
The holiday falls just after the end of what has been a brutal first half of the year for stock and bond markets. The S&P 500 logged its worst first-half performance in 52 years, while the Nasdaq Composite has seen its worst first-half performance on record.
The S&P 500 /zigman2/quotes/210599714/realtime SPX +2.13% has logged a roughly 20% fall since the start of the year, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.63% has fallen 14%, and the Nasdaq /zigman2/quotes/210598365/realtime COMP +2.89% was down 29%.