July 4 US Independence Day: US stock, bond market to remain shut on Tuesday

On the occasion of fourth of July celebration, the US stock market will remain shut on Tuesday. Two of the largest stock-trading venues in the US, New York Stock Exchange and Nasdaq will also remain shut on the day.

The S&P 500 ended little changed in a holiday-shortened session on Monday, kicking off the second half of the year on a subdued note, as gains in Tesla and bank shares were countered by weakness in the healthcare sector.

Tesla shares jumped as the electric vehicle maker said it delivered a record number of vehicles in the second quarter.

S&P 500 gained 4.75 points, or 0.11%, to end at 4,455.13 points, while the Nasdaq Composite gained 29.01 points, or 0.21%, to 13,816.93. The Dow Jones Industrial Average rose 7.02 points, or 0.02%, to 34,414.62.

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Moreover, the exchanges will also close three hours early at 1 pm ( according to eastern time) and 10:30 pm (IST). Bond traders will also get a reprieve on Tuesday as the Securities Industry and Financial Markets Association (SIFMA) has also announced Tuesday as holiday for bond traders. It has recommended close in fixed-income trading. As per the recommendation, the bond trading should conclude an hour early on Monday at 2 pm (Eastern Time), so that Americans can indulge in the Independence day celebrations.

Nasdaq hits 40-year milestone on Friday

Nasdaq’s giant leap has emerged as the major highlight of the first half of 2023. The US stock reported its biggest-ever first-half gain in 40 years in 2023. The giant progress was fuelled by Apple’s spectacular market rally which made the tech giant attain $3 trillion market valuation for the first time. On Friday, all the three major indexes advanced solidly on Friday. Apple Inc breached the $ 3 trillion mark for the first time since January 2022.

Apple Inc breached the $3 trillion mark for the first time since January 2022, adding 2.3% to close at $193.97 after hitting a record of $194.48. It was lifted by growing appetites for growth stocks generally as well as bets the iPhone maker will succeed in new markets.

Fourth of July celebration in the US

The Fourth of July celebration marks the Indipendence Day of America. The nation achieved independnece 247 years ago. This is the main reason why the day is celebrated throughout the USA by taking out parades, cookouts and fireworks. Notably, the fireworks performed during the celebration often become the result of unwanted emergency situations like episodes of fire in rooms and houses.

The day commemorate the adoption of the Declaration of Independence on July 4, 1776. The declaration was adopted by the Second Continental Congress, and marked the official seperation of the colonies from Great Britain.