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,

Organizations across the New York City area are marking Martin Luther King Jr. Day with special events honoring the civil rights leader's legacy.This year, the federal holiday also falls on Inauguration Day.

"While others were advocating for freedom by 'any means necessary,' including violence, Martin Luther King Jr. used the power of words and acts of nonviolent resistance, such as protests, grassroots organizing, and civil disobedience to achieve seemingly impossible goals," according to The King Center.