January 28, 2023

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Wall Street closed. Martin Luther King Day is celebrated in the USA

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Wall Street closed. For exactly thirty years, the United States has celebrated Martin Luther King DayThe third Monday in January is a national holiday in honor of Nobel Peace Prize winning activist Martin Luther King. The reason for the closure has been revealed New York Stock Exchange As well as all public offices that will resume their usual activities starting tomorrow.

Wall Street closed. fiscal day

The day marked cautiously for European stock listings, the day was closed by the beacon of Wall Street for Martin Luther King Day. Investors are already expected to be on appointments for the next few days, both in terms of central banks and large quarterly multinationals. On the first front, attention remains focused on the next moves by central banks in terms of raising interest rates. The Federal Reserve publishes the Beige Book on Wednesday, the European Central Bank publishes its December meeting minutes on Thursday, and the Chinese central bank announces its interest rate decision on Friday.

On the macro front, Wednesday will be the key day in the US with three data in particular: Producer Price Index (PPI), Industrial Production and Retail Sales. In the next few days, a series of interventions by policymakers and central bankers in Davos, at the annual meeting of the World Economic Forum (WEF), will also be analyzed. Among the long-awaited speeches are those of the President of the European Central Bank, Christine Lagarde, and the first chief of the International Monetary Fund, Kristalina Georgieva.

Meanwhile, a survey by the World Economic Forum shows that two-thirds of leading economists in the public and private sectors expect a global recession in 2023. About 18% consider a global recession “highly likely” – more than double the previous survey conducted in September 2022 – and only A third of respondents see it as unlikely this year. On the corporate front, TIM has been in the spotlight following the resignation of de Boifontaine, CEO of Vivendi.

Martin Luther King Day

A few days after the death of Martin Luther King on April 4, 1968, Democratic Congressman from Michigan John Conyers proposed a memorial in his honor, the holiday, but the proposal was not accepted. Conyers and Shirley Chisholm, a New York State Representative and the first black woman elected to Congress, have proposed the idea at every session of Congress, for 15 straight years. Among the various attempts we mention the attempt of 1979, when the proposal succeeded in passing the vote in the House and then was rejected in the Senate.

From 1978 benefit rallies were organized to celebrate the Leader Civil rights. In 1980, 100,000 people took part in a peaceful demonstration to demand legal recognition of the holiday. Among the supporters of the Day of Remembrance was also Strom Thurmond, a senator who had frequent quarrels with a Baptist pastor, who stated that the act was a duty of respect for the person.

It would be necessary to wait until 1983, by 338 votes to 90 in the House and 78 to 22 in the Senate, to turn the proposal into law. President Ronald Reagan signed into law a national holiday commemorating Martin Luther King, which was observed on the third Monday in January. Martin Luther King’s first day was celebrated on January 20, 1986. However, not all 50 states immediately recognized this holiday, and some even celebrated it under different names.

At the end of 1992 there were two states that had yet to celebrate this anniversary: ​​Arizona and New Hampshire. New Hampshire has already celebrated its anniversary under the name Civil rights days Which in 1999 will change its name to match the other countries. The situation was different in Arizona, where there was no similar anniversary. From January 18, 1993, Martin Luther King Day was celebrated for the first time in all states of the USA.

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