Euro zone slowdown deepens as inflation stays sticky, vexing ECB
October PMI data show euro area growth cooling while inflation remains elevated, complicating ECB rate path.
Globex trading on US Monday holidays: Sunday night open as usual, early halt on Monday, then resume for Tuesday.
Traders often wonder about CME Globex's behavior when a Monday holiday such as Labor Day approaches. The simple answer is that the market does not remain closed entirely. It opens as planned on the preceding evening, and then its operation changes partway through the holiday.
Consider Labor Day, which falls on Monday, 7 September 2026. Globex will open at its usual 5:00 PM CT (6:00 PM ET) on Sunday, 6 September. This session is not an additional trading day; it is merely the beginning of Monday's trade date happening on time. The opening itself is unaffected by the upcoming holiday.
The change occurs once Monday's session begins. Instead of continuing until its typical afternoon close, trading stops early, usually around noon CT for major contracts like the E-mini S&P 500 (ES). This is referred to as an "early halt" — not a full closure. The distinction matters: a full closure means no trading at all for that trade date, with Good Friday on the 2026 calendar being the clearest example, whereas an early halt means the session runs shorter than normal before pausing partway through the day.
Trading resumes later that same Monday evening, again at the standard 5:00 PM CT open, now for Tuesday's trade date. For traders, the net effect is a single day featuring a shortened afternoon window, rather than a break in market access.
This pattern applies to most Monday holidays on the exchange calendar, including MLK Day, Presidents' Day, and Memorial Day, although the precise halt time may differ slightly by product. Good Friday, Thanksgiving, and Christmas are the real exceptions, where the day session closes completely rather than just cutting short.
The key lesson: do not assume that a US market holiday means no Globex access. Determine whether it is a Monday-style early halt or a full-day closure, as the two demand very different planning for open positions and automated strategies.
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October PMI data show euro area growth cooling while inflation remains elevated, complicating ECB rate path.
UK flash services PMI came in at 53.1 in October, above the 51.8 estimate.
Eurozone October flash PMIs missed forecasts as growth continued at slowest pace, likely fueling ECB tightening speculation.
Germany's October flash manufacturing PMI was 54.2 versus 53.5 expected, while services and composite PMIs missed forecasts, pointing to slower activity.