The life and legacy of Dr. Martin Luther King Jr. will once again be celebrated and honored Monday in events around the nation.

Yes, Martin Luther King Jr. Day is one of 11 federal holidays recognized in the United States. Most grocery stores will hold normal hours on Martin Luther King Jr. Day. Most banks will be closed on Martin Luther King Jr. Day, since it is a federal holiday and the Federal Reserve will be closed.

Inauguration Day and Martin Luther King Jr. Day collide Monday in a rare occurrence. The big picture: Stock markets, banks, many schools and the U.S. Postal Service are closed for the federal holiday,