Trump just declared May 8 a national holiday. What’s open and closed?

• President Donald Trump announced two new national holidays on Monday, including one that would fall just days later on Thursday, May 8. Here's what you need to know about it.

On Monday, Donald Trump took to social media to announce he was establishing two new national holidays, one of which would fall just days later.

The holidays, he said, were meant to commemorate the ends of World War I and World War II and would fall on Nov. 11 and May 8.

“We won two World Wars, but we never took credit for it — Everyone else does!” Trump wrote on Truth Social. “All over the World, the Allies are celebrating the Victory we had in World War II. The only Country that doesn’t celebrate is the United States of America, and the Victory was only accomplished because of us.”

It was an announcement that raised all sorts of questions. Would there be a new day off? (Nov. 11, Veteran's Day, is already a national holiday.) Does Trump even have the power to declare a national holiday? Here's what you need to know.

Are banks open on May 8?

They are. While banks are generally closed on national holidays, you'll be able to access your safe deposit box and conduct business as usual. While he was the one who create the holiday, Trump said “we will not be closing the Country” for them, because “we already have too many Holidays in America”

Will there be any mail delivery on May 8?

Yes. The U.S. Postal Service will operate normally. UPS and FedEx will also conduct business as usual, with drop off locations offering normal hours.

Is the stock market open on May 8?

Absolutely. All major markets will trade as normal.

Are government offices open on May 8?

Yep. States that would like to close for the new holiday haven't had a chance to put a bill before their legislators yet. And as for the Federal government, Trump was very clear, saying “We were Workers then, and we are Workers now!”

Which retail and grocery stores are closed on May 8?

None. (Seeing a pattern here?) And while retailers rarely let any holiday go by without some sort of sale, this is one they might skip.

Does Trump even have the ability to declare a national holiday?

Yes and no. Anyone can declare a national holiday. There are, after all, some doozies already on the calendar, such as Ice Cream for Breakfast Day (first Saturday of February), Lost Sock Memorial Day (May 9—no, you don't get that do off either!), and National Spaghetti Day (Jan. 4).

Only Congress can designate federal holidays, however—and states are free to ignore them. There are currently 12 federal holidays on the books in the U.S. The next one where you're likely to get a day off is Memorial Day, which falls on May 26 this year.

This story was originally featured on Fortune.com