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The financial world is taking a Good Friday pause. The two major stock exchanges — the New York Stock Exchange and the Nasdaq — will be closed on Friday in observance of the Christian holiday. The same goes for bond markets, which also closed early on Thursday.
This is a rare instance when markets shut down on a day that is not a federal holiday. So even if you can’t trade stocks on the U.S. exchanges, you can still expect to receive your mail — the U.S. Postal Service is open for business as usual. Banks, which typically follow the federal calendar, will generally be open as well.
Easter Monday is also a holiday in much of the world, with many financial markets, most notably in Europe, shuttered until Tuesday.
U.S. stocks closed mixed on Thursday — the final session of trading this week ahead of the long Easter weekend — while booking weekly losses.
The blue-chip Dow Jones Industrial Average was pulled lower by a historic drop in shares of UnitedHealth Group Inc. after the insurer reported earnings and delivered an outlook that disappointed Wall Street.
The Dow Jones shed 527.16 points, or 1.3%, ending at 39,142.23, while posting a 2.7% weekly loss.
The S&P 500 ended up 7 points, or 0.1%, higher at 5,282.70, and logged a 1.5% weekly decline.
The Nasdaq Composite lost 20.71 points, or 0.1%, finishing at 16,286.45, for a 2.6% weekly drop.
Stocks wavered during the session as investors monitored trade talks between President Trump and other world leaders regarding his tariff fight. Trump's ongoing feud with Federal Reserve Chair Jerome Powell was also in focus after the central bank chief said on Wednesday that he's in no rush to cut interest rates, given the uncertain policy backdrop from the White House.
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By Felicity Bradstock for Oilprice.com | The United Nations Development Programme (UNDP) and the...
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