Stocks closed in New York for Martin Luther King Day


Photo: ANP

Stock exchanges in New York will remain closed on Monday in observance of Martin Luther King Day. The Day in Honor of the American Pastor and Political Activist has been a public holiday in the United States since 1986 and falls annually on the third Monday in January, around the time of King’s birthday.

Wall Street investors will turn their attention to the quarterly results of investment banks Goldman Sachs and Morgan Stanley on Tuesday. On Friday, banks like JPMorgan Chase, Citigroup, and Bank of America have already published results. Then the prices went up. On Thursday, video streaming service Netflix will also open the books about the past period.

On the macroeconomic front, data on US retail sales and producer prices, among others, will be released this week. The Fed’s umbrella central bank also publishes the so-called Beige Book that provides insight into the economic situation in the United States.

The Dow Jones index closed up 0.3 percent on Friday, at 34,302.61 points. The broad-based Standard & Poor’s 500 Index rose 0.4 percent to 3,999.09 points, and the Nasdaq Technology Index rose 0.7 percent to 11,079.16 points.

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