On Thursday, November 24, the New York Stock Exchange, Nasdaq and US bond markets were closed for Thanksgiving.
For Black Friday, November 25, Wall Street and the bond markets will be open; however, the trading day ends early, with the stock market closing at 1 p.m. EST, and the bond market closes at 2:00 PM EST.
Why does the stock market close early on Black Friday? Is it really to give investors a chance to grab those Black Friday deals?
Well, not really.
On November 27, 1992, traders saw the first short trading day after Thanksgiving with a close at 14 EST.
The markets offered traders an extra hour off by closing at 13.00 on 26 November 1993, the following year, and the practice of closing at 1pm the day after Thanksgiving is still in place today.
The decision to close the exchange early the day after Thanksgiving was made by exchange officials due to low trading activity, with many traders taking the day off and a largely empty economic calendar.
Also read: Are store credit cards a good idea during holiday shopping?
Other market holidays on which the markets were closed this year:
- Monday, February 21 – Presidents’ Day, George Washington’s birthday
- Friday 15 April – Good Friday
- Monday 30 May – Remembrance Day
- Monday 20 June – the 10th National Independence Day
- Monday 4 July – Independence Day
- Monday, September 5 – Labor Day
The exchange will also be closed on Monday 26 December for Christmas Day, which falls on a Sunday in 2022.
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The original story can be found here.
Photo via Shutterstock.