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Business

Time: 2024-07-04

Market Insights on Independence Day Celebrations and Closures

Market Insights on Independence Day Celebrations and Closures
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Independence Day Celebrations and Closures

Market Insights on Independence Day Celebrations and Closures

The Fourth of July, also known as Independence Day, commemorates the adoption of the Declaration of Independence on July 4, 1776. It was not until the War of 1812 that celebrations became more widespread. Congress made Independence Day a federal holiday on June 28, 1870. Various places will be closed on this day, including government offices, courthouses, post offices, and schools. Mail delivery and some delivery services from FedEx and UPS will also be affected. Additionally, trash and garbage collection schedules may change during this period.

Retailers and Banks Closing

On the Fourth of July, U.S. stock markets and banks will be closed, with limited ATM services available. Warehouse club Costco will be closed, but most major national retailers will be open with some offering special promotions. The hours may vary by location, so it is advisable to check with local stores. Grocery stores like Aldi, Jewel-Osco, and Walmart will be open during normal business hours, while convenience stores and pharmacies will also be operational.

Traveling During Independence Day Week

With record numbers of travelers expected during the week around Independence Day, travelers should prepare for heavy traffic and potential delays. Nearly 71 million people are estimated to travel between June 29 and July 7, with a significant increase in the number of people compared to previous years. The worst times to travel will be between 2 and 7 p.m. on certain days, according to transportation data analysts. It is recommended to leave for trips early in the morning or after the evening rush to avoid traffic congestion.

Safety Concerns During the Holiday

Independence Day is considered one of the most dangerous holidays for driving in the U.S. due to increased traffic and potentially risky driving behavior. Fatal crashes have been reported to significantly increase during this period in certain states, emphasizing the importance of safe driving practices. It is advised to plan ahead, start trips early in the day, and be cautious while on the road. Additionally, air travel is expected to surge during this period, with millions of people passing through airports. TSA recommends arriving early, reserving parking in advance, and traveling light to save time and money.

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