Following President Joe Biden's declaration of a "National Day of Mourning" on Thursday, Jan. 9, 2025, in honor of former President Jimmy Carter, U.S. stock markets may also remain closed that day.
What Happened: Jimmy Carter served as the 39th president of the U.S. from 1977 to 1981. As he passed away on Dec. 29, 2024, the outgoing President Joe Biden in a statement said, "I do further appoint January 9, 2025, as a National Day of Mourning throughout the United States."
"I call on the American people to assemble on that day in their respective places of worship, there to pay homage to the memory of President James Earl Carter, Jr. I invite the people of the world who share our grief to join us in this solemn observance," the statement added.
NYSE's official X account also posted a tribute to the late president.
The NYSE honors the service and legacy of former President Jimmy Carter. The 39th President of the United States was renowned for his commitment to humanitarian advocacy throughout his life.
— NYSE (@NYSE) December 30, 2024
Photo credit: Rick Diamond pic.twitter.com/XImRzofsyc
Why It Matters: The NYSE and Nasdaq typically close during the funerals of former presidents. Following President Bush's passing, U.S. bond markets, CME, and U.S.-based equity and interest rate options and futures also suspended trading.
It's not clear yet if markets will be closed on Jan. 9, 2025, in this instance, but Benzinga has mailed the NYSE and Nasdaq for confirmation.
When Were Markets Closed In The Past?
In the past, the markets were closed when a former president passed away in the U.S. The last time this happened was on Dec. 5, 2018, in honor of 41st President George H.W. Bush, who served for one term from 1989 to 1993. He died on Nov. 30, 2018, at the age of 94.
Former President Gerald R. Ford died on Dec. 26, 2006, at 93. He served as the 38th president from 1974 to 1977 and as vice president from 1973 to 1977. The NYSE observed a moment of silence on Dec. 27, 2006, and closed on Jan. 2, 2007, the day of his funeral.
The 40th President Ronald Reagan (1981-1989), died on June 5, at 93. Markets closed for his state funeral on June 11, with a moment of silence observed on June 7. Similarly, markets were also closed on Apr. 27, 1994, after the death of the 37th President Richard Nixon.
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