The Daily Times Newspaper

Americans Celebrate President’s Day, Wall Street Closed

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U.S. stock markets will be closed on Monday to celebrate President’s Day. This holiday was originally intended to celebrate the birthday of the first President George Washington on February 22 but has since become a day to honour all presidents of the United States.

 

Trading on Wall Street will resume on Tuesday. As in Europe, the mood in the markets in New York this week will mainly be determined by the developments surrounding Ukraine. All eyes are on the meeting between US Secretary of State Antony Blinken and his Russian counterpart Sergei Lavrov later this week.

The ministers’ meeting may spark a summit between US President Joe Biden and Russian President Vladimir Putin, for which Moscow says it is still too early. The threat of a Russian invasion of Ukraine has gripped markets for weeks.

The annual earnings season on Wall Street is now essentially over. However, large retailers such as DIY group Home Depot and department store chain Macy’s will come up with figures on Tuesday. Moderna, the American manufacturer of a corona vaccine, will also open the books on Thursday.

On the macroeconomic front, data on activity in the US services and manufacturing sectors will be released on Tuesday. In addition, a new estimate of the growth of the world’s largest economy in the fourth quarter is scheduled for Thursday.

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