Stock exchanges, banks, schools and other public institutions in the United States will remain closed on Monday, May 26, on account of Memorial Day. This federal holiday is dedicated to honouring and remembering the US military personnel who have died while serving in the Armed Forces.
Memorial Day marks one of the 11 federal holidays in the US this year, when public institutions observe a holiday. Hence, both prominent US exchanges, the NASDAQ and the New York Stock Exchange, will remain closed on Monday.
Stock trading will resume on the following business day, on May 27.
Will Schools In the US Remain Open On Memorial Day?
Additionally, post offices, courts, schools and most government offices will also remain closed on Monday. Major banking and other financial institutions such as Bank of America and Citibank, among others, will also remain closed on the holiday. Several Federal agencies and other government departments will also observe a holiday on May 26.
Significance of Memorial Day Holiday In The US
The US annually observes Memorial Day on the last Monday of May. Originally called Decoration Day, it was formalised by a "Memorial Day Order" issued by Grand Army of the Republic Commander-in-Chief John A. Logan in 1868.
On the occasion, the White House has also shared a video clip, paying tribute to the deceased servicemen and women. People across the US take on Memorial Day activities and pray for permanent peace. US President Donald Trump is also expected to address the nation on the occasion.
US Restaurants Open Or Closed On May 26?
Meanwhile, restaurants and retail stores are expected to remain open on Monday. Some partial closures may affect operating hours. People are expected to gather at public spaces to commemorate the holiday and participate in ‘Memorial Day' activities such as public prayers, remembrance ceremonies and community events.
Following Memorial Day, the next US federal holiday will be observed on ‘Juneteenth National Independence Day' on June 19.
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