Investors may be looking to relax after a busy week for the market on Good Friday.
THE Dow Jones Industrial Average gained 0.6% this week, while the
increased by 0.1%. The tech-heavy Nasdaq Compound, however, fell 1.1%. So far this year, the three major indexes are up 1%, 6.9% and 15.5%, respectively.
“April could be tougher for markets than the start of the year. At the same time, as we look ahead, a strong first quarter has always been a positive sign for the year as a whole,” wrote Brad McMillan, Chief Investment Officer of Commonwealth Financial Network, “We can reasonably expect more volatility in the near term, but the longer term picture remains more positive.”
Keep reading to see what market participants need to know if they are looking to trade on Good Friday.
Is the stock market open today?
The New York Stock Exchange and the Nasdaq Stock Market will be closed, even though Good Friday is not a US federal holiday. (Good Friday is a Christian holiday that commemorates the crucifixion of Jesus Christ and is observed two days before Easter Sunday.)
However, stock index futures will trade until 9:15 a.m. EST on Friday before resuming at 6 p.m. on Sunday.
The Securities Industries and Financial Markets Association, or SIFMA, recommended the bond market will close early at 12 p.m. EST on Friday. Over-the-counter markets, meanwhile, will be closed.
The US Postal Service will be open on Friday, as will many banks.
Are international stock markets open today?
Many international stock markets, including the London Stock Exchange and the Toronto Stock Exchange, are also closed today. The London Stock Exchange will also be closed on Monday 10 April.
How did the market behave around Good Friday?
Since 1960, the S&P 500 has posted an average gain of 0.8% during the week of Good Friday, according to Dow Jones Market Data. Over the past 5 years, the index has averaged a gain of 2.6% for the holiday week.
What about economic news?
Analysts and market watchers should pay attention: the US Bureau of Labor Statistics will release the monthly jobs report Friday at 8:30 a.m. EST.
Economists polled by FactSet expect the jobless rate to hold steady at 3.6% in March. Economists also believe employers added 240,000 jobs in March, down from 311,000 in February.
While Friday’s report may seem unusual, the Labor Department also released monthly employment data on Good Friday 2021.
What else should I know?
This week saw the February release Jobs and the labor turnover survey, the March ADP reportAnd unemployment benefit claims data for the week ended April 1. These reports showed what many investors were looking for: proof that the tight labor market is loosening up. However, they also pointed to signs of a weakening US economy.
Following the release of the monthly jobs report, traders will likely be pondering the Federal Reserve’s next steps as it continues to try to rein in inflation. So far, the central bank has hiked interest rates nine times as part of its fight against high prices.
Write to Angela Palumbo at email@example.com