Here we are in late November and the Holiday Season is in full swing. I just spent a great long weekend seeing friends and family; eating and drinking too much. Invariably, the question that everyone asks and gets on Thanksgiving is, “Do you work tomorrow?” So, since the Holidays are here, I thought I’d write about the markets’ holiday schedules.
The New York Stock Exchange (NYSE) and the NASDAQ stock market are the two most prominent US stock exchanges and are closed on the same days. This mostly determines when the “stock market” is open or closed. The stock market celebrates nine holidays per year. The easy ones are: New Years Day, Martin Luther King Jr. Day, Washington’s Birthday (aka Presidents Day), Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas. The ninth holiday observed by the stock market is Good Friday, i.e. the Friday before Easter. Although not a Federal holiday, the stock market has celebrated Good Friday since at least 1864, and probably even before that*.
Of note, the stock market is open on Columbus Day and Veteran’s Day, both of which are bank holidays (i.e. the Federal Reserve is closed). This causes a bit of a disconnect as the banking system and the stock market are very inter-related. Because money cannot move without the banks, these two holidays may cause a delay in trade settlements and possibly affect when you can get your money from a sale of stock.
There are other “semi-holidays” when the market will close early….