The stock markets in the United States are closed on Monday, January 20, on account of Martin Luther King Jr. Day holiday.
Every year on Martin Luther King Jr. Day, the US government is closed and people across the nation take part in a day of service.
The US government shuts down on the third Monday of every January for the day to honour Martin Luther King Jr. This year, that day is January 20.
The national holiday in King Jr’s honour is timed to mark his birthday on January 15, 1929.
The MLK Day is observed to honour civil rights icon, who worked to end segregation and racism through non-violence movement.
Donald Trump’s inauguration day
This year, Martin Luther King Jr. Day also happens to be the day President-elect Donald Trump will be inaugurated and take office for a second term.
The inauguration completes a triumphant comeback for the Republican who survived two impeachment trials, a felony conviction, two assassination attempts and an indictment for attempting to overturn his 2020 election defeat.
The inauguration ceremony will take place inside the Rotunda of the US Capitol, four years after a mob of Trump supporters breached the symbol of American democracy in an unsuccessful effort to forestall the Republican Trump’s defeat to Democrat Joe Biden.
The swearing-in was moved indoors for the first time in 40 years due to the extreme cold.
Markets last week
US stock indices closed higher on Friday on optimism over the health of the US economy.
The Dow Jones Industrial Average rose 334.70 points, or 0.78 per cent, to 43,487.83, the S&P 500 gained 59.32 points, or 1.00 per cent, to 5,996.66 and the Nasdaq Composite gained 291.91 points, or 1.51 per cent, to 19,630.20.
For the week, the Dow rose 3.69 per cent, the S&P gained 2.92 per cent and the Nasdaq climbed 2.43 per cent.
