Is the stock market open on Memorial Day in 2024? The answer to this question is no. The stock market will be closed Monday, May 27, for Memorial Day.
The federal holiday, which was originally known as Decoration Day, honors fallen military personnel. Memorial Day also serves as the unofficial start of summer.
Megan Horneman, chief investment officer at Verdence Capital Advisors, says that even though the latest Consumer Price Index (CPI) report showed inflation eased in April, most folks should plan on paying more for their Memorial Day celebrations this year.
Of the 43.8 million people that are planning on traveling more than 50 miles from home this holiday weekend, according to AAA, those going by car will pay about 5 cents more per gallon this year vs last, Horneman notes. Meanwhile, domestic air travel is up about 2% from 2023.
As for those Memorial Day barbeques, beef prices are up around 7% year-over-year, while fruit and vegetable prices are 3% higher.
"We realize that the growth rate of inflation is slowing and that is good news for the Fed," Horneman says. However, consumers are "still feeling the compounding effect of years of inflation pressures," which is starting to "filter into spending" and could create some pocketbook strain."
But not all hope is lost and there are plenty of Memorial Day deals and discounts for consumers, including on several Apple (AAPL) products at Best Buy (BBY).
The bond market is closed too
Bond traders will get a long weekend, too, and then some. Not only is the bond market closed on Monday, May 27, for Memorial Day, but it closes early at 2 pm Eastern on Friday, May 24.
For those wondering what time does the market open for regular trading hours, both the Nasdaq Stock Market and the New York Stock Exchange (NYSE) run from 9:30 am to 4:00 pm Eastern time Monday through Friday.
Are banks open on Memorial Day? The answer to that question is no. Monday, May 27, is one of several bank holidays in 2024, and so banks will be closed on Memorial Day.
Below, we feature a full schedule of all stock market and bond market holidays for 2024.
2024 stock market holidays
2024 bond market holidays
* This is the recommended bond market holiday schedule from the Securities Industry and Financial Markets Association (SIFMA). This schedule is subject to change.
