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Americans are getting ready to celebrate Christmas as the U.S. continues to face the highly contagious Omicron variant, persistent inflation and labor shortages.
But it’s not all doom and gloom.
The S&P 500 index closed up 0.6% on Thursday, and is up 25.8% so far this year. The index also climbed Tuesday and Wednesday, with gains spurred in part by strong economic data. Consumer confidence surged in December, which has helped ease investors’ concerns about the risks posed by Covid-19 and inflation.
The Dow Jones Industrial Average gained 0.6% percent on Thursday, and has climbed 17.5% so far this year.
While many investors may be taking a break on Christmas Eve this Friday, others may be looking to trade. Here’s what you need to know about the markets.
Is the Stock Market Closed on Christmas Eve 2021?
The New York Stock Exchange and the Nasdaq will be closed on Christmas Eve. U.S. bond markets and U.S. over-the-counter markets will also be shut.
Are Foreign Stock Exchanges Open on Christmas Eve?
The London Stock Exchange closed at 12:30 p.m. local time on Thursday, and will remain closed Christmas Eve. The Toronto Stock Exchange will be open on Friday until 1 p.m. Eastern.
In Asia, the Hong Kong Stock Exchange is slated to close at noon local time on Christmas Eve. The Shanghai Stock Exchange and Tokyo Stock Exchange will be open regular hours.
How Are Retail Stocks Poised to Look This Christmas and Beyond?
While many people started holiday shopping early, November spending didn’t pick up as much as experts anticipated. But the outlook for the next few months is strong, analysts say.
Companies such as
Walmart
(ticker: WMT),
Costco Wholesale
(COST),
Target
(TGT) and
BJ’s Wholesale Club Holdings
(BJ) look well-positioned to deal with more consumers staying at home as they wait out the Omicron variant, Jefferies analyst Stephanie Wissink says. Next year could be the year of fashion catch-up, which she says may boost shares of
Macy’s
(M) and
Kohl’s
(KSS).
How Have Stocks Performed on Christmas Eve?
Excluding years when the market was closed on Christmas Eve, the S&P 500 has averaged a 0.2% gain on the occasion–which is higher than index’s daily average gain of 0.03%, according to Dow Jones Market Data. But the S&P 500’s average move on Christmas Eve is 0.48%, lower than its daily average move of 0.74%.
What about New Year’s Day and New Year’s Eve?
The New York Stock Exchange, the Nasdaq, and U.S. over-the-counter markets will be open regular hours on Friday, Dec. 31. However, U.S. bond markets will close early at 2 p.m. Eastern.
New Year’s Day 2022 falls on a Saturday. And while most global financial markets will be closed on Monday, Jan. 3, 2021, in observance of the holiday, U.S. markets will be open.
The lack of a New Year’s Day respite for stock traders is the result of NYSE Rule 7.2, which stipulates that the exchange will be closed either Friday or the following Monday if the holiday falls on a weekend, unless “unusual business conditions exist, such as the ending of a monthly or yearly accounting period.”
Write to Logan Moore at [email protected]
https://www.barrons.com/articles/stock-market-hours-today-open-closed-christmas-eve-2021-51640300386
