By Staff Reporters
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The first Labor Day holiday was celebrated on Sept. 5th, 1882, in New York City, in accordance with the plans of the Central Labor Union. President Grover Cleveland signed a law on June 28th, 1894, that made the first Monday in September of each year a national holiday, according to the Department of Labor.
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The financial markets will be closed today Monday, September 4th, for Labor Day, 2023. Most brokerages will process transaction requests received after 4 p.m., Eastern time, on Friday, September 1st, as if received before 4 p.m., Eastern time, on Tuesday, September 5th, 2023.
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The stock market has had a strong 2023 so far, but that doesn’t mean investors won’t enjoy the long weekend. The Dow Jones Industrial Average has gained 11% this year, while the S&P 500 has climbed 15% and the NASDAQ Composite has moved 21% higher. A handful of tech stocks, such as Nvidia (ticker: NVDA) and Meta Platforms (META), have led the charge as traders bet on the future of artificial intelligence.
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Filed under: "Ask-an-Advisor", Investing, LifeStyle | Tagged: Central Labor Union, Department Labor, DJIA, DOL, DOW, FB, Grover Clevelad, Labor Day, Labor Day 2023, markets, Meta, NASDAQ, Nvidia, S&P 500, stock markets |
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