As with all national holidays, MLK Day, added to Inauguration Day, will likely cause unusual trading patterns next week in stocks and bonds.
WASHINGTON, January 11, 2017 – We don’t have much in the way of trading diary-worthy action today, given the market’s irregular run-up to next week’s holiday- and Inauguration Day-riddled potential.
As we’ve already seen Wednesday morning, incoming President Trump’s, umm, straightforward remarks are likely to deal at least one- or two-day howitzer hits in stock categories he’s not happy with. Pharmas have taken a heavy hit today, along with selected aerospace firms, given the President-elect’s negative comments on both industries. These areas, perhaps, will continue to be vulnerable to headline risk until Mr. Trump is able to engage them on “the art of the deal.”
MONDAY, JANUARY 16, 2017
All U.S. markets (equity, option, and fixed income) will be closed in observance of Martin Luther King, Jr. Day. Additionally, no pre-market or after hours trading sessions will take place. Canadian markets will be open on Monday January 16, 2017. But Canadian equity orders placed after the close of the U.S. markets on Friday, January 13, 2017, will route to the Canadian exchanges on Tuesday, January 17, 2017.
Settlement dates for equity orders:
|Trade Date||Settlement Date|
|Wednesday, January 11, 2017||Tuesday, January 17, 2017|
|Thursday, January 12, 2017||Wednesday, January 18, 2017|
|Friday, January 13, 2017||Thursday, January 19, 2017|
Note: If you’re adding or withdrawing funds based on trades, be sure to check with your broker to confirm settlement dates as various brokerage in-house rules may occasionally vary.
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