Event: Presidents’ Day
Presidents’ Day is a federal holiday, which occurs on the third Monday in February to honor the birthdays of George Washington and Abraham Lincoln. The origins of Presidents’ Day dates back to the late 1800s when George Washington’s birthday was celebrated on February 22. In the late 1960s, Congress began the process to move the federal holiday to Monday to provide for a long weekend. A few years later in 1971, Washington’s birthday was officially moved to Monday and include the honoring of Lincoln’s birthday which falls on February 12. It was the retail industry and labor unions that helped change the holiday name from Washington’s birthday to Presidents’ Day, in an effort to spur sales during the three day weekend. Capitalism at work.
“ When it comes to Presidents’ Day, it really is all about the ‘”presidents” but in this case we are talking cold hard cash. This three day weekend has evolved to focus on capitalism rather than history.
Market Comparision
How do the markets perform leading up to and including the last trading day before Presidents’ Day? The analysis table below breaks down each of the 30+ markets into four separate trading periods. These time frames span 6-days, 4-day, 2-days and the event day itself. The return performance for each time frame is measured against its normal performance during the year to calculate a final over or underperformance return. This metric quantifies, in percentage points, the advantages or disadvantages associated with Presidents’ Day. Markets highlighted with a checkmark or an “x” should be closely monitored for potential strength or weakness heading into the event.
Calendar Breakdown by Events
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