WASHINGTON. It’s hard to believe, but next week is when Independence Day, 2018 Edition, arrives. Better yet, July 4 occurs right in the middle of next week. That provides families with the option of taking a very long weekend that includes the holiday on one side or the other. Better still, they can choose to take the whole week and both contiguous weekends off. But Wall Street, of course, will have to scramble to deal with this year’s Independence Day trading schedule, not to mention Canada Day as well. But we’ll get to that shortly.
Speaking of Wall Street and its squadron of robber barons, consider this dilemma. Since the upcoming holiday is also known as “The 4thof July,” note that today’s greedy captains of industry and tech still haven’t easily able to persuade their wholly owned Congressmen to shift this holiday to Mondays, “whenever,” like most of the rest of our Federal holidays – the better to create yet another long weekend shopping experience, BTW. That’s just fine by us. Despite opinions to the contrary, we’re not required to buy crap we don’t really need every single day of the year, now, do we?
We could snark about that just a bit more, and even moralize, too. But we’d best cut to the chase, since our headline promised you Wall Street’s Independence Day trading schedule. Plus, we do have to deal with Canada Day (July 2) as well. So let’s get going.
INDEPENDENCE DAY 2018 TRADING SCHEDULE, U.S. MARKETS
TUESDAY, JULY 3, 2018:
Pre-Market Trading takes place as usual today. But note that U.S. equity, option, and listed corporate bond marketswill be closing early at 1:00 pm ET. Due to the early closing of U.S. Markets, After Hours Trading takes place early, running from 1:15 p.m. – 5:00 p.m. ET. Remaining bond marketswill close for trading at 2 p.m. ET. Any fixed income orders placed after 2:00 p.m. ETon Tuesday, July 3, 2018 will be entered for the next business day, Thursday, July 5, 2018.
WEDNESDAY, JULY 4, 2018:
All U.S. markets – equity, option, and fixed income – are closed in observance of America’s Independence Day. No Pre-Market or After Hours trading, either. THE BOND MARKET: Will close early at 2:00 pm ET on Tuesday, July 3, 2018.
Now, just to make things possible, remember that our friends up in Canada (or at least those we have left!) are having their own holiday next week, namely Canada Day. So let’s figure that trading schedule out, too.
CANADA DAY TRADING SCHEDULE 2018, CANADIAN MARKETS:
MONDAY, JULY 2, 2018:
Fixed income orders re closed Monday, July 2, 2018 in observance of the Canada Day Holiday. Orders for Canadian securities placed after the close of the U.S. Market on Friday, June 29th, 2018 (that’s today) will be routed to the U.S. markets Monday, July 2, 2018 if there is a market available. If there is no market available, Day orders will be cancelled out at the end of the day.
WEDNESDAY, JULY 4, 2018:
Canadian Markets will be open as usual. However, Canadian equity orders placed after the close of the U.S. Market on Tuesday July 3, 2018, will route to the Canadian exchanges on Thursday, July 5, 2018.
And in conclusion:
That’s a wrap. U.S. markets will be back in business as usual on Thursday, July 5, 2018.
A final tip: As we’ve hinted in a recent column, trading on a split holiday week with a pair of long weekends – like the one coming up – tends to be thin, unpredictable and inclined to go negative due to a serious drop in trading volume. So unless Dr. Evil threatens the world with destruction over the next few days, it’s best not to panic at any nasty-looking decline. At least until we’re well past this year’s July 4 holiday.
A better idea: Enjoy your holiday, have fun, and, if you’re in the Midwest or mid-Atlantic states, make sure there’s air-conditioning near by. It’s going to be a hot one, according to the weatherman!
We’ll be contributing sporadic columns over the next few days, as Mr. Market will be generating more than his usual quota of head-fakes in this low-volume holiday trading environment.