The US Stock Market will be closed on the account of Juneteenth, a federal holiday that is celebrated on June 19, to mark the end of slavery in the US. The holiday's name is a portmonteau of the words June and Nineteenth as it is referring to June 19, 1865, when Major General Gordon Granger mandated the final enforcement of the Emancipation Proclamation in Texas after the end of the American Civil War.
The American Civil War was fought between the Union from the Northern states of the United States and the Confederacy which represented the Southern states of the country who attempted to secede. The secession was attempted due to the latter's disagreement with US President Abraham Lincoln's position on the abolition of slavery.
Juneteenth was officially legislated as a federal holiday in 2021 by then US President Joseph R Biden who signed the Juneteenth National Independence Day Act into a law.
Thursday's Stock Market Performance
Wall Street opened on a strong footing on Thursday in the aftermath of the US-Iran deal being formalised and correction in oil prices. S&P 500 and Nasdaq recovered sharply from Wednesday's Fed triggered selloff.
ALSO READ: Wall Street Set For Red Start: S&P 500, Nasdaq Futures Fall As US-Iran Talks Delay Hits Sentiments
S&P 500 opened 1.19% higher at 7,508.44, tech-heavy Nasdaq Composite surged 1.5% at open to 26,425.68, and Dow Jones Industrial Average added nearly 400 points and opened 0.76% higher at 51,883.37.
Post this, crude oil prices eased considerably, with brent crude falling to a low of $77 per barrel and West Texas Intermediate touching $73.9 levels. As of 9:54 a.m. EST, Brent Crude traded 2.64% lower at $74.09 and WTI was down 3.82% at $73.84 per barrel.
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