WASHINGTON – Labor Day (Labour Day in Canada) looms ahead. It’s scheduled to arrive, as usual, on the 1stMonday in September, which, in 2020 happens to fall (no pun intended) a bit late this year, on September 7, 2020. Labor Day / Labour Day is the annual holiday that for most Americans marks the official end of summer. It also marks a day off for American and Canadian investors.
(Although I expect that summer may actually end on July 1 (Canada Day) for our friends North of the Border.
But in any event, NASDAQ and tech stocks got smashed Thursday as US markets staged a serious retreat. So we all probably need a break. And Labor Day / Labour Day might just fit the bill.
Labor Day in the US
Labor Day in the US was instituted back in the day as a holiday set aside to celebrate the success of American labor and workers in general. But, like Memorial Day and Veterans Day, one suspects today’s culture warriors have managed to scrub this reality off the calendar, along with a few more statues in America’s public squares.
At any rate, hats off to all American workers, many of whom, alas, have been collecting unemployment checks for the past few months due to the endless Wuhan flu Covid-19, particularly in the unfortunate Blue States.
With all the (paid) unemployed Commies roaming the streets of America’s cities and trashing the businesses and infrastructure our great American workers have proudly built over the past few decades, perhaps we should look ahead a bit and find some useful work for these dead-end recidivists in the local state pen. Ah, but we’d need actual prosecutors to go after these reflexively violent culture warriors. So maybe that’s a bad idea.
At any rate, that’s probably enough politics for the day. But more than likely, there’ll be plenty more political outrages tomorrow.
So in the meantime, for traders and investors that may have overlooked the upcoming Labor Day / Labour Day trading holiday, it’s a day off for big time capitalists and armchair capitalists alike. Enjoy. But do be aware of the upcoming Labor Day / Labour Day trading schedule and it’s surprisingly simple rules and regs.
Labor Day / Labour Day Trading Schedule in both the US and Canada
Monday, September 7, 2020
US and Canadian markets are closed in observance of the Labor Day / Labour Day holiday in both countries and markets.
On September 7 Pre-Market and After Hours trading sessions are closed as well.
Money transfer requests received after your brokerage’s standard cut-off times on Friday, September 4, 2020, generally won’t get processed until Tuesday, September 8, 2020. Check with your broker for specific details before the holiday.
US and Canadian equity orders settle as follows:
|Trade Date||Settlement Date|
|Thursday, September 3, 2020||Tuesday, September 8, 2020|
|Friday, September 4, 2020||Wednesday, September 9, 2020|
Enjoy your long weekend
So again, enjoy the long weekend. Remember that next week, school begins for many youngsters (we think). Be sure to find out what that might exactly mean in your own local school systems, as plans continue to shift by the day.
— Headline image: Illustration of the first American Labor parade held in New York City on September 5, 1882. Illustration appeared in Frank Leslie’s Weekly Illustrated Newspaper’s September 16, 1882 issue. Image via Wikipedia is in the public domain.