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Christmas is here, and in honor of the holiday, many businesses are closed for not only Christmas Day on December 25, but also Christmas Eve on 24. You may be wondering how this applies to the stock market. Here’s what you need to know:
According to NYSE.org, the New York Stock Exchange will be closed on Friday, December 25. They are open with limited hours on Thursday, December 24.
The markets will reopen on Monday, December 28.
The Stock Market Will Close Early on Christmas Eve
According to Kiplinger, while the stock market is not closing fully to give investors time off on December 24 as an early start to the Christmas holiday.
The stock market closes at 1pm ET on Thursday, December 24. The bond market closes at 2pm ET.
Normal hours for weekday trading for both the New York Stock Exchange and the Nasdaq Stock Market are 9:30 am to 4 pm ET.
In 2021 and 2022, the stock market will be closed on December 24. According to NYSE.org, the market will be closed on Friday, December 24 to observe the Christmas holiday, which falls on a Saturday that year. The following year in 2022, Christmas Eve falls on a Saturday, when the stock market would already be closed. That year, the markets will be closed the day after Christmas on Monday, December 26, in observance of the holiday.
By Executive Order, Trump Made Christmas Eve a Federal Holiday for 2020
Ahead of the Christmas holiday, President Trump signed an executive order to give those working federal jobs a paid day off on Christmas Eve (in addition to Christmas Day).
This order does not impact the Stock Market, which will remain open on December 24.
According to the New York Post, Trump’s order declares that “All executive departments and agencies of the Federal Government shall be closed and their employees excused from duty on Thursday, December 24, 2020, the day before Christmas Day.”
It goes on to read, “The heads of executive departments and agencies may determine that certain offices and installations of their organizations, or parts thereof, must remain open and that certain employees must report for duty on December 24, 2020, for reasons of national security, defense, or other public need… December 24, 2020, shall be considered as falling within the scope of Executive Order 11582 of February 11, 1971, and of 5 U.S.C. 5546 and 6103(b) and other similar statutes insofar as they relate to the pay and leave of employees of the United States.”
The order in its entirety can be read here.
In addition to Christmas Day, the other 9 holidays observed as federal holidays are New Year’s Day (January 1), Martin Luther King Jr.’s birthday, Washington’s Birthday, Memorial Day, Independence Day (July 4), Labor Day, Columbus Day, Veteran’s Day, and Thanksgiving Day. On these days, you can expect that in addition to NYSE and Nasdaq, the post office, delivery services, schools, and banks can all be closed to give their employees time off to spend with their families.
It is important to note that the markets will be closed on New Year’s Day, which falls on Friday, January 1, 2 2021. They will reopen on Monday, January 4, 2021.
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