With the fast-paced momentum of the new year underway, traders are gearing up to take a brief pause from the stock market to honor Martin Luther King, Jr. Day on Monday, Jan. 15, in 2023.

Amidst this hiatus, both the New York Stock Exchange and Nasdaq will remain closed. However, stock futures will continue to be active. Notably, contracts tied to the Dow (INDU), S&P 500 (SPX), and Nasdaq 100 (NDX:IND) are showing marginal gains in overnight trade.

Additionally, expect continued activity in… Metals and energy futures on Comex and the New York Mercantile Exchange, trading until 1:30 PM ET on Monday. These markets will briefly close before reopening in the evening at 5:00 PM. As for digital currency, crypto trading will be available all day, with Bitcoin (BTC-USD) last changing hands at $42,634. The recent approval of spot Bitcoin ETFs by the SEC last week continues to draw attention to this fast-evolving sector.

Historical significance: MLK Day stands as a tribute to the esteemed civil rights leader Martin Luther King Jr., whose birthday fell on Jan. 15. This federal holiday, observed on the third Monday in January, was brought into being by President Reagan in 1983. It officially took effect three years later, with not every U.S. state opting to observe the holiday at the state level until 1991. Remarkably, New Hampshire became the final state to rename the holiday after King in 1999, having previously known it as “Civil Rights Day.”

Be sure to explore Seeking Alpha’s comprehensive guide to Stock Market Holidays for more valuable insights.

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