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Traders will get some time off from the stock market on Monday, in observance of Washington’s Birthday, also known as Presidents’ Day, which is traditionally celebrated on the third Monday of February.
The U.S. bond market, as well as the metals and commodities market – including for Nymex crude oil and Comex-traded gold – will additionally be closed, though stock futures are active. There’s not much movement, however, with contracts linked to the Dow (INDU) and S&P 500 (SPX) unchanged, and Nasdaq futures (NDX:IND) ahead by 0.1%. Crypto will be available all day, with Bitcoin last changing hands at $52,373.
Investors will also have some time to consider the latest economic data, with conflicting reports on GDP, jobs, retail sales, and CPI inflation doing little to settle the debate about whether the economy is more at risk of overheating or drifting into a recession.
Looking ahead, this week will include heavyweight earnings reports from Nvidia (preview) and Walmart could impact sentiment broadly in their respective sectors. Nvidia is up more than 45% YTD and is the AI superstar of the year, while Walmart is being tagged as one of the better defensive plays of the year. Walmart also has a three-for-one stock split that will become effective at the close of trading on Friday.
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