Memorial Day will take an even darker tone this year. The occasion pays tribute to the women and men who died in the service of their country, and the holidays have become an unofficial start to the summer, synonymous with barbecues in the courtyard and festive parades.
This year, however, the public health crisis that has affected the world will add an extra dimension to the act of service, sacrifice and patriotism in the United States.
The coronavirus has killed more than 92,000 people and 45 million jobs in the United States, according to one measure, and has accelerated seismic upheavals in the economy, accelerating the bankruptcies of some of the main retail chains, including JC Penney Co.
JCPNQ
and Pier 1 Imports Inc.
PIRRQ
And most Americans stay locked up at home because baseball stadiums and shopping malls are empty.
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That said, the holidays should be seen as a welcome point to reflect on what has been going on over the past month, with public health professionals, store employees and delivery people on the front line of the battle against an assailant. invisible.
The first efforts to restart commercial activity are underway in the 50 states at different stages after long closures imposed to reduce the spread of the contagion. The reopenings have hope on Wall Street and Main Street.
For its part, the financial market has vigorously attempted to recover from a defeat inspired by the economic impacts of the viral epidemic.
Dow Jones industrial average
DJIA
the S&P 500
SPX
and the Nasdaq composite index
COMP,
all headed for the holidays with profits of at least 3% at the close of Thursday.
Nasdaq Inc.
NDAQ
which operates the Nasdaq will be closed on Monday, Memorial Day; and the NYSE, property of Intercontinental Exchange Inc.
ICE,
It will also be closed for holidays. When investors return on Tuesday, the NYSE will also welcome “a subset” of floor traders after the prosecution closed on March 23 in response to the pandemic.
The Securities and Financial Markets Industry Association, a trading group in the brokerage industry that establishes procedures for the bond market, advises bond traders to close an hour early, At 2 o’clock in the afternoon. Friday it will be closed Monday.
Regular US oil trade
CL.1
on the New York Mercantile Exchange and metals
GC.1,
Comex will be closed for Memorial Day.
Meanwhile, it’s also a UK holiday, and the London Stock Exchange, and in particular the FTSE 100
UKX,
It will be closed. However, other European courses will be opened.