Meaning of Juneteenth, and when did it become a federal holiday
As the name suggests, Juneteenth signifies the date June 19 of the year 1865. The date holds importance in the history of the US, majorly because the last enslaved people in Texas were released free upon the order of Major General Gordon Granger. The date is two months after the Civil War ended and about two and a half years after Emancipation Proclamation was issued by the then President Abraham Lincoln to free the people enslaved in the Confederacy. Although slavery did not lose its mark in some parts of America, the thirteenth amendment of the US Constitution implemented a ban on slavery in December 1865.
Last year on June 17, US President Joe Biden signed the day Juneteenth into the US law, marking its status the same as that of memorial Day, Veterans Day, and other federal holidays. The Congress leaders praised and supported the move with the belief that this was a much-awaited moment as a move toward racial reconciliation and to honour those who suffered due to slavery.
On what other days is the US Stock Market closed?
The US stock market is closed on festivities and holidays, including Martin Luther King Jr. Day, Independence Day, Labor Day, and Thanksgiving Day. While on a few days observed officially, the trading ends before the usual time. However, the US Stock Market is open on federal holidays, like Columbus Day and Veterans Day.
Following is the list of US Stock Market Holidays from June-December 2022. 4 out of 5 holidays are on Monday – vain for the traders.
- June 20, Monday – Juneteenth National Independence Day
- July 4, Monday – Independence Day
- September 5, Monday – Labor Day
- November 24, Thursday – Thanksgiving Day (the market will close at 1 PM Eastern Time on November 25, 2022)
- December 26, Monday – Christmas Day
Will the bond and commodities market, post offices, and banks be opened on Juneteenth?
No. The U.S. bond and commodities market will remain shut. Hence, the trade of government bonds, corporate bonds, mortgage- and asset-backed securities, and municipal bonds will be on a halt for Monday. Federal Reserve Banks, non-member banks, and major Wall Street banks will also be closed on the holiday, as well. The U.S. Postal Service has ordered to halt the operations of post offices in the country.
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