Stock exchanges in New York will remain closed on Monday for Labor Day. Workers’ Day is always celebrated in the United States after the first weekend in September.
Trading will resume on Wall Street on Tuesday.
US President Joe Biden is taking a holiday to visit unions in Pennsylvania and Wisconsin. There he will make a strong case for trade unions, also with a view to the midterm elections that will take place later this year. Biden is committed to retaining a majority in Congress.
In particular, the president will deliver his message on organized labour. He will also call on people to remain loyal to the Democratic Party. Republicans will likely take control of the House of Representatives and perhaps even the Senate in November. The opposition party usually wins seats in the first elections after a new president takes office.
Biden and his team hope that a string of recent successes, such as the massive climate plan piloted by Congress, will ensure a strong turnout among Democrats. In doing so, they also target widespread voter outrage over the Supreme Court’s previous nullification of women’s right to abortion.
Biden lashed out at the Republican MAGA movement before the weekend. MAGA stands for Make America Great Again, a slogan that was given an outspoken nationalist and Christian-conservative overtone by former President Donald Trump. Biden warned against what he calls the Republicans’ extremist MAGA movement.