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U.S. stocks edged lower on the Columbus Day holiday, with the S&P 500 closing down from the previous Friday. By stock, selling in memory-related names weighed on the market.

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The story

Trading in the U.S. stock market was subdued after the holiday closure, and the S&P 500 Index ended slightly lower than the previous Friday. The article reports on the impact of the trading environment created by the Columbus Day holiday.

Market-wide conditions were affected by factors associated with the closure, including government agencies and banks being closed. Columbus Day is a U.S. government holiday, when government agencies, banks and some payment infrastructure are shut down.

In terms of individual stocks, selling in memory-related stocks weighed on the market and was cited as a factor pushing the broader market lower. In response, market movements remained limited.

At a glance

IndicatorsThe S&P 500 closed at 7,807.24

Market closureGovernment agencies and banks closed for Columbus Day

StockSelling in memory-related stocks weighed on the market

NatureMarkets dependent on the Fed's payment infrastructure also closed

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