Today is Juniteenth and a triple watching Friday watching
President Joe Biden signed law yesterday making Juneteenth a federal holiday, effective immediately. As a reference, June 19, 1865 was the day the African Americans were emancipated from the Union Army, according to General Gordan Granger’s declaration. On the stock market, the Securities Exchange Commission will close, the Federal Reserve will open, and the Nasdaq and New York Stock Exchanges will be open.
While federal employees are off work, US stock markets will remain open today during normal hours from 9:30 a.m. ET to 4 p.m. ET. However, the major markets and the Fed have committed to review this holiday as they finalize the 2022 holiday calendars for each institution.
Economic data is unlikely to be released today. Today, however, it will not be quiet. Today is also a triple Witches Friday, ie options expire, futures on indices expire and stocks expire.
For today, June 18, there are no notes to be released.
In case you missed it, SChaeffer’s Market Mashup podcast is back for another episode, as is Cboe Global Markets! Henry Schwartz and Robert Hocking from Cboe talk to Patrick Martin von Schaeffer about the biggest mistakes options traders make early on. We learn the lessons they would give their past (1:33), Rob’s five most common mistakes he sees in options traders (4:11), Henry’s own list (7:16), the broader rise in market participation by retailers Trader (15:00) and how to educate yourself (19:25). Schaeffer’s Market Mashup podcast comes out roughly twice a month, so be sure to subscribe so you don’t miss the next episode drop!
Looking ahead to the next week, the third full week of June is starting slowly, but is quickly picking up speed in the economic calendar. Economic data is not expected to be released on Monday, and Tuesday will only include existing home sales data (SAAR) for May. Markit PMI data for June manufacturing and services and a new May home sales report will be released on Wednesday. The first data on jobless claims will be released on the regular Thursday, in addition to ongoing jobless claims, durable goods orders, non-defense investment orders, merchandise trade and an updated GDP. The next week closes on Friday with the Personal Income Report, Consumer Spending and the PCE Core Price Index.
AAll economic data presented here are preliminary and subject to change.