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Veterans Day has arrived – and the
Dow Jones Industrial Average
will try to continue its good week. Whether or not the bond market is closed helps or hurts is up for debate.
The Dow Jones, up 3.9% so far this week, had an excellent Monday and Tuesday. He passed the
S&P 500
1% increase and the
Nasdaq composite
Decrease of 2.9%. Hopes for Pfizer’s vaccine (ticker: PFE) after the company announced the first data caused energy and industry stocks to rise and the tech sector to decline.
What is Veterans Day?
Veterans Day is the current name for Armistice Day, which was celebrated on the 11th minute of the 11th day of the 11th month at the end of World War I. The name of the holiday was changed to Veteran’s Day in 1954 and was meant to honor all veterans, not just those who fought in World War I. In 1968 an attempt was made to change the date to the fourth Monday in October, but was reverted to November 11 in 1978 after many states backed down.
Is the scholarship open on Veterans Day 2020?
Yes, the stock market is open on Veterans Day, but good luck buying a Treasure – the bond market is closed. The same goes for most banks and schools. Mail will not be delivered as the US Postal Service is closed and garbage will not be picked up as Veterans Day is a federal holiday. But at least it’s not the other way around.
How does the stock market behave on Veterans Day 2020?
The stock market averaged a 0.1% gain on Veterans Day dating back to 1954, with its biggest upward movement in 2000, when it gained 1.97%. Its biggest decline occurred in 2000, when it fell 2.44%.
The whole market received a boost Monday morning after Joe Biden was declared the winner of the 2020 presidential election, and even more so when
Pfizer
announced that the first data showed a 90% efficacy rate for its Covid-19 vaccine. Hopes for a faster economic recovery have prompted investors to move away from high-tech stocks, which don’t need a strong economy to grow, in favor of stocks that do.
Still, President Donald Trump has yet to concede and continues to challenge the election results, while the vaccine will not be widely available for some time. After such wild moves, a little caution may be in order.
Write to Ben Levisohn at [email protected]
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