The Nasdaq Stock Market and New York Stock Exchange will be closed on Friday in observance of the Fourth of July. Bond markets will also be closed, as will NYSE American Equities, NYSE Arca Equities, NYSE National, NYSE Texas, and NYSE options markets. These exchanges and markets will reopen at their regular times on Monday, July 7.

"The labor market continues to defy expectations," writes Morgan Stanley Wealth Management Chief Economic Strategist Ellen Zentner. "Today's stronger-than-expected jobs data highlighted ongoing U.S. economic resilience in the face of multiple challenges, but it also likely pulled the plug on a rate cut later this month."

As Americans celebrate Independence Day with fireworks and parades, many businesses and services will alter their hours or close altogether for the Fourth of July. As is standard practice, U.S. stock markets will be closed on Friday in observance of Independence Day.