The weekend that serves as the kickoff to summer has finally arrived. Many businesses will be closed on Monday in observance of Memorial Day.
This includes most banks, however, you can still make transactions via mobile app or ATM. If you do make a virtual deposit on Memorial Day, keep in mind that it will not show up in your account until the next day.
As for whether your bank will be open on Saturday and Sunday of Memorial Day weekend, refer to your bank’s normal schedule. If your bank is always open on Saturdays, it will be open on the Saturday of Memorial Day weekend as well. Most banks are closed on Sundays.
Will the Stock Market Be Open on Memorial Day?
Thanks to user-friendly apps like Robinhood, more and more people are taking an interest in buying stocks. Those new to the world of the New York Stock Exchange are likely wondering whether the stock market will be open this Memorial Day.
Memorial Day is one of 9 holidays for which the New York Stock Exchange closes. Both the NYSE and Nasdaq will be closed on Monday, May 31, 2021. The Dow Jones Industrial Average and S&P 500 are closed to trading. Bond markets will be closed as well. Regular hours will resume on Tuesday, June 1.
Foreign markets will remain open, so you can still do some trading on Memorial Day. The London Stock Exchange will also be closed on Monday, May 31 for a bank holiday.
You Can Still Trade Cryptocurrencies on Memorial Day
If you trade cryptocurrencies such as Bitcoin or Dogecoin, you can still buy and sell on Memorial Day. Cryptocurrency is available 24/7, regardless of federal holidays. This is because crypto trading is not part of the NYSE.
As many Americans enjoy a weekend of boat rides and barbecues, those with cryptocurrency holdings don’t have that luxury. According to MarketWatch, some Bitcoin investors are dreading what could be a volatile weekend for Cryptocurrency.
This includes Barry Silbert, the founder and CEO of Digital Currency Group, who tweeted, “Dear Bitcoin, please take this weekend off” on Friday. Yves Lamoureux, the president of Lamoureux & Co. told MarketWatch that “there’s a bloody Crypto weekend coming.”
What Other Holidays does the NYSE Observe?
According to the NYSE’s holidays & trading hours calendar, the NYSE closes for 9 days a year, excluding weekends. The holiday closures are as follows:
- New Year’s Day
- Martin Luther King, Jr. Day
- Washington’s Birthday / President’s Day
- Good Friday
- Memorial Day
- Independence Day / Fourth of July
- Labor Day
- Thanksgiving Day
- Christmas Day
When holidays fall on a Saturday, the NYSE closes on Friday in observance of the holiday. When holidays fall on a Sunday, the NYSE closes on Monday in observance of the holiday.
For example, Independence Day falls on a Sunday in 2021. The NYSE will therefore be closed on Monday, July 5 this year.
For the most part, banks follow the same schedule. However, many banks are also closed on Columbus Day, which the NYSE stays open for.