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Market Further: Is the inventory change open at this time? Listed below are the buying and selling hours on Martin Luther King Jr. Day

Stock and bond markets in the US will close on Monday 17th January to mark Martin Luther King, Jr. Day to give traders a break after a volatile start to the year.

The Securities Industry and Financial Markets Association [Sifma] has recommended bond markets close for the day, which may impact 10-year Treasury note trading
TMUBMUSD10J,
1.792%.
The New York Stock Exchange and Nasdaq are also closed for the federal holiday.

Meanwhile, there will be no regular trading or settlement in the US commodity markets, including for Nymex crude and Comex-traded gold.

The holiday comes two weeks into a year that has started in the red for equities thanks to the ongoing Omicron spate of coronavirus cases, a tightening Federal Reserve, rising inflation and uncertainty about valuations ahead of the next earnings season.

See: Earnings updates from JPMorgan and Goldman could shape recovery in banking stocks

US stocks are lower year to date: the Dow Jones Industrial Average
djia,
-0.56%
is down 1.2%, the S&P 500
SPX,
+0.08%
has lost 2.2%, and the Nasdaq Composite
comp,
+0.59%
is down 4.8% by the close on Friday. The 10-year note is now up about 15 points as investors sell these bonds in anticipation of higher rates.

The Omicron rise has resulted in several changes to the celebration of Dr. Martin Luther King Jr. on Monday. Communities from Alabama to Massachusetts, having originally planned in-person events, have instead switched to online versions in many cases for the second year in a row.

Related: Omicron beats local governments that are already too sparsely saturated

Despite this, investors continue to reward exchange-traded funds geared towards "reopening trading" more than the "work-from-home" regime that dominated 2020. The US Global Jets ETF
jet,
-1.37%
up 5.5% year-to-date through Friday, during the Direxion Work From Home ETF
WFH,
+0.53%
had lost 5.5% over the same period.

Martin Luther King's holiday is traditionally observed on the third Monday in January to celebrate King's birthday, January 15, 1929.

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