US Market Reaction On First Day Of Diwali; Is Trading Closed On Dow Jones, S&P 500, and Nasdaq On October 31?

The US stock market witnessed a mixed trend during the first day of Diwali, which is Dhanteras. In the early trade of Wednesday, US futures have climbed driven by impressive earnings of tech giants. Going ahead, investors will keep an eye on the results of Meta, Microsoft, Apple and Amazon among others. However, US citizens are also preparing for Halloween which is celebrated every year on October 31. Does that mean, the US market will be closed on October 31? Let's Find Out!

US Stock Futures On Wednesday:

In the early trade, the S&P 500 futures surged by 0.36% to 5,892, while similarly, Nasdaq 100 Futures climbed by 88.50 points or 0.43% to trade at 20,785. Moreover, Dow Jones Futures jumped by 88 points or 0.20% to perform at 42,533. These futures have an expiry of December 2024.

As per Trading Economics data, US stock futures climbed on Wednesday, buoyed by encouraging earnings reports from major tech companies. In after-hours trading, Alphabet surged nearly 6% following impressive quarterly revenue growth in its cloud division.

The Trading Economics Data highlighted that Snap and Reddit also saw substantial gains, rising 10.6% and 24.8%, respectively, thanks to robust quarterly performances. However, AMD experienced a downturn, falling 7.6% after issuing weaker revenue guidance for the fourth quarter. Investors are now focusing on upcoming corporate earnings from Meta and Microsoft on Wednesday, followed by reports from Apple and Amazon on Thursday.

Meanwhile, on the economic front, the data stated that a preliminary reading of GDP will be released later today, while the PCE price index report on Thursday and the monthly jobs report on Friday will also attract attention.

Is There a Stock Market Holiday In the US On October 31?

There are major US market holidays such as New Year's Day, Memorial Day, or July 4th Independence Day. Does that mean, the US market will be closed on the upcoming occasion of Halloween which is scheduled for later this week?

Every year, Halloween is celebrated on October 31.

However, Halloween is among those occasions which bring festive cheer, however, is not a market holiday in the United States. That being said, the US market will be opened for trading on October 31 of this year.

Wall Street On October 29, Dhanteras:

Dow Jones: The Dow Jones Industrial Average (DJIA) index closed at 42,233.05, down by 154.52 points or 0.36%, after ranging between 42,491.86 to 42,171.65.

S&P 500: This index closed at 5,832.92, however, was up by 9.40 points or 0.16% to close at 5,832.92, after ranging between 5,847.19 to 5,802.17.

Nasdaq Composite: This index also closed higher by 145.56 points or 0.78% to 18,712.75. The index outperformed both Dow Jones and S&P 500 and ranged between 18,753.19 to 18,509.59 on October 29.