U.S. financial markets will be closed on Wednesday, July 4, in observance of Independence Day.
Other global markets will operate on a normal schedule.
This week marks the beginning of a new month, new quarter and the start of the second half of the year. U.S. equity markets will enter the second half with paltry gains based on recent history, as the S&P 500
SPX, -0.49%
is up less than 2% since the start of the year.
Returns in the bond market were poor, as Treasury prices fell, sending yields on benchmark long-dated issues
TMUBMUSD10Y, -1.15%
up more than 40 basis points since the start of the year. Bond yields move inversely to prices.
Meanwhile, the dollar strengthened against major rivals, with the ICE U.S. Dollar index
DXY, -0.23%
rising 2.8% year to date.
Read: How trade and interest rates will determine where the dollar ends 2018
The Securities Industries and Financial Markets Associations recommended that the bond markets close early on Tuesday, July 3, at 2 p.m. Eastern and be closed completely on Wednesday.
The New York Stock Exchange will end trading at 1 p.m. Eastern on Tuesday and will be closed on Wednesday.
Trading in derivatives such as options and futures would be limited on Tuesday and closed on Wednesday.
Settlement of options and futures on CME Group’s Globex on Tuesday, July 3, will be at 1 p.m. Eastern, for agricultural, interest rate, foreign exchange, bitcoin, real estate, weather and equity products.
Asian and European stock markets, as well as the currency markets, will be open on July 4.
Source : MTV
