Last year, Juneteenth was declared a federal holiday for the first time. But because of how close the declaration was made to the actual holiday, a lot of federal services still operated. What’s happening this year on Monday, June 20, 2022? Are banks or the stock market open or closed in observance of Juneteenth today?
Banks Are Expected to be Closed Today
Although Juneteenth technically is on June 19, that date fell on a Sunday this year. Because of that, Juneteenth is being officially observed by the federal government on Monday, June 20, today. This means that many banks are going to be closed today.
According to its website, the Federal Reserve is going to be closed today. The website notes: “Sunday – the Federal Reserve Banks and the Board of Governors are closed on June 20, 2022, December 26, 2022, and January 2, 2023.”
Next year, in 2023, the Federal Reserve will be closed on June 19 because the holiday won’t fall on a Sunday.
Most banks are closed on federal holidays. So expect banks near you to be closed today. ATM machines, however, will still be operational.
The Federal Reserve notes the following holidays are currently observed, in addition to Juneteenth: New Year’s Day, Martin Luther King, Jr. Birthday, Washington’s Birthday, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving Day, and Christmas Day.
The Stock Market Is Closed Today
The stock market is also closed today, The Wall Street Journal reported. This is the first time that stock markets have closed to observe the Juneteenth holiday. Both Nasdaq and the New York Stock Exchange will be closed Monday, June 20.
The New York Stock Exchange observes all U.S. holidays. Other holidays that the NYSE is closed on include New Year’s Day, Martin Luther King, Jr. Day, Washington’s Birthday, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving, and Christmas.
According to Nasdaq’s observed holiday calendar, Nasdaq’s U.S. Equity and Options Markets are also closed today. Other holidays the Nasdaq is closed include New Year’s Day, Martin Luther King, Jr. Day, President’s Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving, and Christmas.
If you buy or sell Bitcoin or other cryptocurrencies, those are done online and are not part of the stock market. So buying and selling for those will continue as usual today. Cryptocurrencies can be bought or sold any time of the day or night, and are not paused to observe any holidays like the stock market does.
On June 17, 2021, when President Joe Biden signed the Juneteenth bill, he said, in part:
Juneteenth marks both the long, hard night of slavery and subjugation, and a promise of a brighter morning to come. This is a day of profound — in my view — profound weight and profound power. A day in which we remember the moral stain, the terrible toll that slavery took on the country and continues to take — what I’ve long called America’s original sin.
At the same time, I also remember the extraordinary capacity to heal, and to hope, and to emerge from the most painful moments and a bitter, bitter version of ourselves, but to make a better version of ourselves. …Today, we consecrate Juneteenth for what it ought to be, what it must be: a national holiday…
Juneteenth is the first new federal holiday created since 1983, NBC Connecticut reported.