Why Is The Stock Market Open On Veterans Day?
Every year, Veterans Day falls on the 11th of November; usually, November is considered the beginning of the festival season in the USA.
In this case, most stocks perform well, and as a result, it benefits the nation’s economy. In other words, it is a time to make money.
This is the main reason why the stock market in the United States remains open, even on Veterans Day.
You can see, there is no stock market holiday till Thanksgiving (Thanksgiving is a major Christian festival).
How Does The Stock Market Perform On Veterans Day?
It depends upon a lot of factors; usually, stocks perform on average on Veterans Day. However, the month is considered suitable for investors.
According to an analysis published in visualcapitalist.com, from 1987 to 2018, the US stock market performed exceptionally well in November.
Which The Institutions Remain Closed On This Day?
- Federal reserve including all banks under it
- Schools, colleges
- Post office
- Many federal government offices, etc.
Why Is Veterans Day A Federal Holiday In The United States?
Veterans Day is dedicated to all the US veterans who served in the US armed forces, fought, and sacrificed themselves for the pride and dignity of the nation.
On the 11th of November 1918, Germany surrendered World War I to the allies (Primarily, Great Britain, France, and the US).
A year later, on November 11th, 1919 to honor and remember the veterans who sacrificed their lives, allies observed a day in their name, called “Armistice Day”.
In 1938, the US Congress decided to observe it as a legal holiday. However, the day was still dedicated to World War I veterans, not others.
In 1945, after World War 2, a veteran named Raymond Weeks requested the US authority to dedicate the day by covering all US veterans, not only WWI veterans.
The United States Congress took his request seriously.
In 1954, under the presidency of Dwight D. Eisenhower, Congress changed the name Armistice Day to Veterans Day for covering all the people, who fought WWI, WW2, the Korean War, the Vietnam War, etc.