Is the stock market open on Presidents Day?

Presidents Day, which is officially called Washington's Birthday, is observed on the third Monday in February under the Uniform Monday Holiday Act of 1968. The congressional act moved several federal holidays to Mondays to create long weekends for many American workers.

Americans now refer to this federal holiday as Presidents Day, but no matter what you call it, it is a day off of work for people who work in most government jobs, in schools, and in banks.

In this modern era, Presidents Day is not associated with cultural celebrations such as fireworks shows or parades, but it is known as a discount day for retailers.

Since January and February are historically slow for retailers, following the post-Christmas holiday shopping frenzy, many retailers use Presidents Day promotions as a way to increase store traffic.

Banks are closed on Presidents Day. But what about the stock markets?

The stock markets are closed on Presidents Day

The New York Stock Exchange and the Nasdaq are closed on Presidents Day.

The NYSE and Nasdaq do not close on every federal holiday according to their calendars — both stay open on Veterans Day and Columbus Day — but are closed for 10 days each year.

• New Year's Day
• Martin Luther King Jr. Day
• Presidents Day (Washington's Birthday)
• Good Friday
• Memorial Day
• Juneteenth National Independence Day
• Independence Day
• Labor Day
• Thanksgiving Day
• Christmas Day

The stock market will also close or reduce hours of operation on days such as July 3 and Christmas Eve.

Both markets will resume trading on Tuesday, Feb. 18, at their normal times, which means the opening bells will ring at 9:30 a.m. EST.

The history of Presidents Day

Some states still refer to the February holiday as Washington's Birthday, since it was originally a celebration of the first American president, whose birthday was February 22. The celebration evolved to include Abraham Lincoln, whose birthday was February 12.

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Even the New York Stock Exchange and Nasdaq refer to it differently: The NYSE calls the holiday Washington's Birthday, while the Nasdaq calls it President's Day.

Congress has never officially changed the name, according to the National Archives; it was retailers who unofficially dubbed the holiday Presidents Day, and it stuck.

What else is closed on Presidents Day?

In addition to banks, the following are typically closed:

• Public schools
• U.S. Post Office branches
• Local government offices
• State government offices
• Federal government offices
• Many non-retail businesses, which opt to give workers the day off

What is open on Presidents Day?

Most retailers, including Costco, Trader Joe's, and Kroger, remain open on Monday. Most restaurant chains — including McDonald's, Taco Bell, Olive Garden, Chili's, Wendy's, and Chick-fil-A — also operate regular hours.

National parks offer free admission on Presidents Day, and so do some state park systems, including Florida's State Parks.

Related: Is Costco open on Presidents Day?