US Holiday Impact: Financial Markets Closed, Retail Operations Continue
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Benzinga
- Market Closure: In observance of Martin Luther King Jr. Day, both the New York Stock Exchange and Nasdaq will close on January 19, with normal trading resuming on January 20, impacting investor trading activities.
- Banking Services Halted: The Federal Reserve and major commercial banks like JPMorgan Chase, Bank of America, and Wells Fargo will be closed for the holiday, although customers can still access funds via ATMs and mobile banking, ensuring basic services remain available.
- Mail Service Disruption: The United States Postal Service will suspend regular mail deliveries and close retail post office locations, while private couriers like UPS and FedEx will modify their services, affecting consumers' daily logistics.
- Retail Operations Continue: Major retailers such as Walmart, Target, and Costco are expected to remain open during the holiday, although hours may vary by location, ensuring that consumer shopping needs are met during the holiday period.
Analyst Views on BAC
Wall Street analysts forecast BAC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BAC is 61.17 USD with a low forecast of 55.00 USD and a high forecast of 71.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
18 Analyst Rating
14 Buy
4 Hold
0 Sell
Strong Buy
Current: 52.590
Low
55.00
Averages
61.17
High
71.00
Current: 52.590
Low
55.00
Averages
61.17
High
71.00
About BAC
Bank of America Corporation is a bank holding company and a financial holding company. Its segments include Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking and Global Markets. Consumer Banking segment offers a range of credit, banking and investment products and services to consumers and small businesses. The GWIM includes two businesses: Merrill Wealth Management, which provides tailored solutions to meet clients' needs through a full set of investment management, brokerage, banking and retirement products and Bank of America Private Bank, which provides comprehensive wealth management solutions. Global Banking segment provides a range of lending-related products and services, integrated working capital management and treasury solutions, and underwriting and advisory services. Global Markets segment offers sales and trading services and research services to institutional clients across fixed-income, credit, currency, commodity, and equity businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
