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Presidents’ Day, officially called Washington’s Birthday, is observed on the third Monday in February under United States law Uniform Monday Holiday Law of 1968. Congressional law moved many federal holidays to Mondays to provide long weekends for many American workers.
Americans now refer to this federal holiday as Presidents’ Day, but no matter what you call it, it’s a day off from 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 like fireworks displays or parades, but is known as a discount day for retailers.
Since January and February have historically been slow months for retailers, in the wake of the post-Christmas holiday shopping frenzy, many retailers are using Presidents’ Day promotions as a way to increase in-store traffic.
Banks are closed on Presidents Day. But what about stock markets?
Stock markets are closed on Presidents Day
the New York Stock Exchange Nasdaq is closed on Presidents Day.
the New York Stock Exchange and Nasdaq They don’t close on every federal holiday on their calendar — they both remain open on Veterans Day and Columbus Day — but they are closed for 10 days each year.
- New Year’s Day
- Martin Luther King Jr. Day
- Presidents’ Day (Washington’s Birthday)
- Blessed Friday
- Memorial Day
- Sixteenth National Independence Day
- independence day
- labor day
- Thanksgiving Day
- Christmas day
The stock market will also close or reduce business hours on days such as July 3 and Christmas Eve.
Both markets will resume trading on Tuesday, February 18 at their regular times, meaning the opening bells will ring at 9:30 a.m. EST.
History of Presidents Day
Some states still refer to the February holiday as Washington’s Birthday, because it was originally a celebration of the birthday of the first US president, whose birthday was February 22. The celebration then evolved to include Abraham Lincoln, whose birthday was February 12.
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Even the New York Stock Exchange and the Nasdaq refer to it differently: The New York Stock Exchange calls the holiday Washington’s Birthday, while the Nasdaq calls it President’s Day.
Congress never officially changed the name, according to National Archives; It was retailers who unofficially called the holiday “Presidents’ Day,” and it stuck.
What else is closed on Presidents Day?
In addition to banks, the following banks are usually closed:
- Public schools
- US Post Office branches
- Local government offices
- State government offices
- Federal government offices
- Many non-retail businesses choose to give workers the day off
What’s open on Presidents Day?
Most retailers, incl CostcoTrader Joe’s and Kroger remain open 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 Dayas well as some state park systems, including Florida State Parks.
