On October 14th, some confusion arose as certain businesses chose to remain open despite it being a federal holiday. Columbus Day, now recognized as Indigenous Peoples’ Day, is observed on the second Monday of October. President Joe Biden proclaimed this change in October 2021, making it the first time the day was officially recognized as Indigenous Peoples’ Day.
While some businesses and banks decided to remain open on this day, the stock market, including the New York Stock Exchange and NASDAQ, operated as usual. These exchanges do not observe Columbus Day or Indigenous Peoples’ Day as holidays, ensuring that trading continued on this day.
Columbus Day, traditionally celebrated to honor Christopher Columbus’ arrival in the Americas in 1492, has faced criticism for overlooking the atrocities committed against Indigenous peoples during that time. This led to the movement to replace Columbus Day with Indigenous Peoples’ Day, which has been officially recognized by several states like Maine, New Mexico, Vermont, Alaska, and California.
Despite this shift, some communities still uphold Columbus Day traditions. For example, in New York City, the annual Columbus Day parade remains a significant event. This year’s parade took place as scheduled, showcasing the continued observance of Columbus Day in certain areas.
It is important to note that while some businesses may choose to operate differently on federal holidays, the stock market maintains its regular schedule, ensuring that trading activities continue as usual. This consistency allows investors and traders to plan accordingly, knowing that the stock market remains open despite the holiday.