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. These days are usually July 3rd, the Friday after Thanksgiving and Christmas Eve. On these days, the market generally closes at 1 pm eastern time (as opposed to the normal closing of 4 pm). New Years Eve, if on a weekday, is a full market day.

The NYSE and NASDAQ will occasionally close for non-holiday observances. Traditionally, the stock market will close in honor of the passing of a former President. This has been the case since the death of President Ulysses S. Grant in 1885. It also closed for a day to celebrate the moon landing in July of 1969.

Finally, the market will shut down for certain crises. In October of 2012, the stock market closed for two days when Hurricane Sandy hit the east coast. And, after the 9/11 terrorist attacks, the markets were closed on 9/11 (a Tuesday) and for the remainder of that week.

The bond market takes the best of both worlds. It is generally closed on all the stock market holidays, closes early on all the “semi-holidays”, and is closed on all bank holidays. It also adds a few extra early closes including on New Years Eve and the Friday before Memorial Day.

Currency traders are hard core. The Forex market (aka foreign exchange or FX) is open 24 hours a day from Sunday at 5pm (eastern) to Friday at 5 pm (eastern), including most US holidays^. The FX market is the largest market in the world, trading over $5 trillion every day. And, because it is so global, it needs to be open almost all the time.

So, now you know why calling at 11 am (pacific time) on Christmas Eve is too late to do a trade. Or, why you might get a call from your advisor on Veteran’s Day. Whatever your holiday schedule is, I hope you have a great Holiday Season and have the time to enjoy the loved ones around you. HAPPY HOLIDAYS!!

https://www.businessinsider.com/art-cashin-on-the-myth-of-the-good-friday-crash-2011-4

https://www.forex.com/en-us/support/trading-hours/

*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Verity Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.

Gavin Chinn, CFS* Financial Advisor

Check the background of this investment professional on FINRA’s BrokerCheck.

An Investment Advisor registered through CUSO Financial Services, L.P., Gavin has 22 years of experience as an advisor in the Puget Sound area.

“I believe every client is unique and deserving of a personalized financial plan that will help them reach their individual financial goals. Before I make any recommendations, I like to get to know my clients. By asking the right questions, and developing an honest, trusting relationship I can really get a sense of what’s going to work best for them.”

Gavin graduated from the University of Washington with a BA in Business Administration and started his financial career with US Bank in the Investment Department. Prior to joining Verity in 2006, he spent eight years with Piper Jaffray.

So what is Gavin’s vision for his dream retirement?

“My dream retirement would be absolutely worry free: financially, emotionally, and in every aspect of life. My finances would be in order so expenses for travel, luxuries, and gifts for the kids, grandkids, and great-grandkids would be taken care of. My kids would be financially sound, so I would be confident in their prosperity. This would give me the freedom to travel and play and do whatever it is I want to do.”

When Gavin’s not working, he enjoys spending time with friends and family, watching Husky football, and taking weekend trips around the Northwest.

Gavin is registered to transact securities business in the states of WA, OR, CA, AZ, FL, HI, ID, IL, MN, NM, NY and VA.

*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Verity Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.

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