The US markets are in a bit of a pickle that they quickly need to figure out for tomorrow. Since it is the end of the year and people are looking to trade to protect themselves against taxes the last few days of the year tend to be very very active. However, with the death of Former President Jimmy Carter historical precedent throws a curveball for the markets.
There is a lot of confusion and lack of clarity about when they close and when they announce it which is only adding to the general confusion. For some Presidents, they have closed the following day but this would be well extremely brutal for some traders if the markets chose to do this. For others, they have closed on the day of their state funerals.
Currently, the New York Stock Exchange has not commented one way or the other. President Biden has ordered for him to have a State Funeral which would seem to buy the NYSE time to push the market closure until next year but we haven't been given assurances one way or another. A further curveball is how this state funeral would play out given on Jan. 3rd a new Congress is sworn in, on Jan. 6th the Electoral Ballots are counted, and on Jan. 20th the President is sworn in. I have not seen any emails regarding this and figure this is causing a huge headache for the Biden Admin, the police, and others in charge of Capitol Security during this next month.
There is a double-edged sword facing everyone across the board as a State Funeral and lying in State will bring possibly tens of thousands of people to DC that otherwise would not be there for that plus the inauguration.... I mean YIKES! I would not want to be that person making that decision. Then you have the economic situation with the markets closing/staying open that welp its a pretty confusing time!
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