On Wednesday, Congress passed legislation making Juneteenth a federal holiday and President Biden signed the bill into law Thursday. <\/p>\n
HOUSE APPROVES BILL MARKING JUNETEENTH A FEDERAL HOLIDAY, SENDING IT TO BIDEN'S DESK<\/u><\/strong><\/p>\n Giving federal employees the day would normally mean that federal bank regulators such as people working at the Federal Reserve would have the day off too, further signaling that Wall Street and U.S. banks would also be closed for business.<\/p>\n Sounds simple enough, but sources tell FOX Business it’s not that easy to just close the Fed and the banking system on such short notice given that U.S. banks are so integral to the global financial system.<\/p>\n "It’s not just like turning off a light switch," one banking executive told FOX Business, "there’s a whole process involved in closing the banking system, which could not be done in one day."<\/p>\n For Wall Street, a sudden, unexpected closure would have been just as tumultuous. Traders at the New York Stock Exchange on Friday will be grappling with what’s known as "quadruple witching," or the rebalancing of options – an event that occurs four times a year on the third Friday of the final month of the quarter. It’s a hugely important day where trading volume could be anywhere from double to triple an average day. <\/p>\n\n\n
\n \nTicker<\/th>\n Security<\/th>\n Last<\/th>\n Change<\/th>\n Change %<\/th>\n<\/tr>\n<\/thead>\n \n ICE<\/td>\n INTERCONTINENTAL EXCHANGE, INC.<\/td>\n 114.02<\/td>\n +0.19<\/td>\n +0.17%<\/td>\n<\/tr>\n \n NDAQ<\/td>\n NASDAQ OMX GROUP INC<\/td>\n 179.79<\/td>\n +2.44<\/td>\n +1.38%<\/td>\n<\/tr>\n \n <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
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