By Charles Passy
It will be a busy holiday weekend, with about 43.8 million Americans traveling, according to AAA.
For many people, the upcoming Memorial Day weekend is the unofficial start of the summer season and a time when numerous institutions, including financial markets, are closed.
But we must never forget the true meaning of Memorial Day itself, which this year falls on May 27, as an occasion to honor those who died serving their country.
The national holiday has its roots in 1868, when a group of Civil War veterans on the Union side felt there should be a day to "decorate with flowers the graves of the war dead," according to the Department of Civil Affairs. United States Veterans. Therefore, the holiday's original name, Decoration Day, was celebrated on May 30, supposedly because by then flowers would be blooming across the country.
In 1971, the holiday was moved at the federal level from May 30 to the last Monday in May as part of a broader law that established official observance dates for other holidays. By then, it was also known as Memorial Day.
The holiday is marked by a variety of events, both solemn and fun. It's also a time when many Americans hit the road. AAA predicts 43.8 million will travel, the most since 2005.
Here are some things to keep in mind in terms of openings and closings.
Are financial markets open on Memorial Day?
All U.S. stock and bond markets are closed on Memorial Day.
Does the post office deliver mail?
The US Postal Service (USPS) will not deliver mail on Monday. FedEx (FDX) will not be operating except for its critical custom shipments; FedEx Office stores will have modified hours. Similarly, UPS (UPS) will not offer service except for its Express Critical shipments; UPS Store locations may be closed, but it's best to check with your local store in advance.
Are the banks open?
Banks are generally closed, although you can always visit an ATM or use your banking app.
Are government offices open?
Since Memorial Day is a federal holiday, all non-essential federal government offices are closed (and the same generally applies to state government offices).
Are the schools open?
Schools are typically closed on Memorial Day, although it is always best to check with your local school district.
Are most stores open?
Not only are stores generally open on Memorial Day, but the three-day weekend is one of the biggest sales occasions of the year, according to RetailMeNot. The savings site says deals can be found on everything from patio furniture to footwear, but notes that big savings can especially be found on mattresses, bedding, spring clothing, and kitchenware.
-Charles Passy
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05-26-24 1017ET
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