Presidents Day: Is the stock market open?
The major indexes recorded losses for a second straight week
Federated Hermes portfolio manager Steve Chiavarone and T3 Trading CSO Scott Redler discuss the impact of rates hikes on 'The Claman Countdown.'
After the market volatility of the past week, traders and investors may be glad that markets will pause for the Presidents Day holiday.
U.S. equity markets, as well as the bond market, will be closed on Monday.
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Stock futures will trade on an abbreviated schedule. Equities will close at 1:30 p.m.
Commodity futures, such as energy and metals, will trade until 2:30 p.m.
Markets in Europe and Asia will trade according to their regular schedules.
U.S. stocks fell across the board Friday as investors kept a close eye on escalating worries over the possibility of Russia invading Ukraine.
Russian President Vladimir Putin gestures while speaking to employees of the Almazov National Medical Center in St.Petersburg, Russia, Friday, March 16, 2018. (Anatoly Maltsev/Pool Photo via AP / AP Newsroom)
The major indexes recorded losses for a second straight week.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 41794.6 | -257.59 | -0.61% |
| SP500 | S&P 500 | 5712.69 | -16.11 | -0.28% |
| I:COMP | NASDAQ COMPOSITE INDEX | 18179.984429 | -59.93 | -0.33% |
The S&P 500 fell 31.39 points to 4,348.87. The benchmark index is now 9.3% below its all-time high set on Jan. 3.
The Dow fell 232.85 points to 34,079.18, and the Nasdaq gave up 168.65 points to 13,548.07.
Oil fell over 2% for the week, closing at $91.07 per barrel. Russia is a major energy producer, and a military conflict could disrupt energy supplies and make for extremely volatile energy prices.
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Treasury yields fell as investors shifted money into the safety of U.S. bonds. The yield on the 10-year Treasury, which affects rates on mortgages and other consumer loans, fell to 1.93% from 1.97%.
US treasury department sign in Washington, D.C., building facade (iStock / iStock)
Video streaming company Roku slumped 22.3% after giving investors a weak revenue forecast and warning about persistent supply chain problems.
Weakness from several big technology stocks, which have more weight on indexes because of their size, helped pull the broader market lower. Intel fell 5.3%.
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Retailers and travel-related companies also lost ground. Amazon shed 1.3% and Royal Caribbean fell 1.7%.
Logos of Amazon and Amazon Prime are pictured on vehicles outside the Amazon Fulfilment Centre in Altrincham, near Manchester, Britain, November 26, 2021. (Reuters/Carl Recine/File Photo / Reuters Photos)
The Associated Press contributed to this report.