After the S&P 500 posted its second straight weekly loss, traders and investors may be glad that markets will pause for the Presidents Day holiday.

U.S. equity markets, as well as the bond market, will be closed on Monday.

Stock futures will trade on an abbreviated schedule. Equities will close at 1 p.m. Eastern time.

CME Energy and Metals trade until their normal settle times at 2:30 p.m. and 1:30 p.m., respectively.

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Markets in Europe and Asia will trade according to their regular schedules.

The markets had a mixed performance to end the week, as traders digested a week of economic data regarding inflation not cooling as quickly or as smoothly as hoped.

The S&P fell 0.3%, the Dow Jones Industrial Average rose 129 points, or 0.4%, and the Nasdaq composite fell 0.6%.

Recent reports have shown more strength than expected in everything from the job market to retail sales to inflation itself, raising worries that the Federal Reserve will have to get tougher on interest rates.

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Economists at Goldman Sachs added one more hike by the Fed in June to their forecast, meaning they see its key short-term rate ultimately rising to a range of 5.25% to 5.50%.

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Since the start of the new year, The S&P 500 is up 6.2%, the Dow has gained 2% and the Nasdaq is the leader adding 12.6%.

The Associated Press contributed to this report