WASHINGTON. Seems like it was just the 4th of July. But now, the Labor Day Holiday looms just ahead. At the very least, September’s arrival gives us a chance to escape the slings and arrows of an outrageous Wall Street August this year. But this Monday’s Labor Day holiday also provides an opportunity to take an extra day off from late summer’s maddening, tweet-driven stock market swings. In other words, a bit further down, we’ll provide the upcoming Labor Day 2019 market trading schedule for both the US and Canada.
A holiday we share with Canada
I’d forgotten, but the upcoming holiday is actually one we share with our friends to the north, where they spell it “Labour Day.” But whether we’re talking Labor Day or Labour Day, Monday’s holiday originated in both the US and Canada as a way to tip our collective caps to US and Canadian workers. You know, the guys and gals who actually make products and help both countries run 24/7. As opposed to the gasbagging politicians in both Washington and Ottawa, who bloviate endlessly about a world they no longer know anything about.
Unfortunately, the original intent of Labor/Labour Day seems lost in the midst of time for rising generations, for whom history is being completely erased by the educational Deep State. But I’m old enough to still remember what it means to get your hands dirty and come home exhausted – but proud – of having put in a solid day of productive labor. It’s something to think about. And we should do so this Monday. It’s a useful way of centering ourselves, the better to #Resist the media’s constantly discordant partisan messaging. We deserve better.
Trading info incoming
However, it’s also time to deliver on our headline’s promised explanation as to how Monday’s Labor Day / Labour Day holiday affects investing and trading action. So here we go.
Labor Day Market Trading Schedule for Monday, September 2, 2019
All US and Canadian markets are closed in observance of Labor/Labour Day in both countries. Likewise, there will be no pre-market or after-hours trading sessions.
Depending on your broker’s internal rules, in general, any customer requests to move money in and out of investing accounts and linked brokerage bank and/or money market accounts – including MoneyLink, wire transfers, check requests, IRA distributions and similar transactions – that your broker receives after standard cut-off times on Friday, August 30, 2019, will not be processed until Tuesday, September 3, 2019.
Equity orders will settle as follows:
|Thursday, August 29, 2019||Tuesday, September 3, 2019|
|Friday, August 30, 2019||Wednesday, September 4, 2019|
Bonds and Global Markets
For bond transactions, check with your broker for internal schedules. But these will generally track with equity transactions.
Both bond desks and most US banks will also be closed for Labor Day in the US.
Trading in any open international market should be available on Labor / Labour Day. Most international markets do not observe this holiday, at least in September.
— Headline image: American worker. Public domain image via Pixabay.