Wall Street Holiday: Nasdaq, NYSE to remain closed for trading on December 25 on account of Christmas celebrations | Stock Market News
Source: Live Mint
Wall Street holiday: US stock markets will remain closed on Wednesday, December 25, in observance of the Christmas holiday. According to the Securities Industry and Financial Markets Association, trading activity on the Nasdaq Stock Exchange and New York Stock Exchange (NYSE) will remain closed on account of Christmas celebrations in the world’s largest economy.
The US stock exchanges had opened for half a day on Tuesday, December 24 and closed early at 1 p.m. EST (Eastern Standard Time) on account of Christmas Eve. The US bond market also closed early at 2 p.m. on December 24, ahead of the Christmas holiday. After closing early before the Christmas holiday, the US stock market will operate as usual until the New Year holiday in January.
Also Read: Stock market holiday: NSE, BSE shut today for trading on account of Christmas 2024
The next scheduled US stock market closure is on Wednesday, January 1, 2025, for New Year 2025. Similar to Christmas eve hours, trading activities on Wall Street will close earlier with a half-day session on the previous day, i.e., on Tuesday, December 31. The previous US stock market holiday was observed on November 28, 2024, on account of the Thanksgiving holiday celebrations.
World markets today
Japan’s Nikkei share average inched down today as investors avoided active bets with Wall Street closed for the Christmas holiday. The Nikkei was down 0.12 per cent at 38,990.56 by the midday break, after rising as much as 0.37 per cent after opening. Shares slipped in Tokyo and Shanghai on Wednesday, two of only a handful of world markets open on Christmas.
Thursday will bring a weekly update on US unemployment benefits. On Tuesday, US stocks closed higher on Wall Street in a shortened holiday session. Gains in big tech stocks helped the S&P 500 to a 1.1 per cent gain, while the Dow Jones Industrial Average rose 0.9 per cent. The tech-heavy Nasdaq composite climbed 1.3 per cent in yesterday’s session.
Also Read: US Fed lowers benchmark rate to 4.25-4.50% for third straight meeting, eyes two cuts in 2025; 5 key highlights
Tuesday’s “Santa rally” comes as the stock market enters what’s historically been a very cheerful season. The last five trading days of each year, plus the first two in the new year, have brought an average gain of 1.3 per cent since 1950. So far this month, the US stock market has lost some of its gains since President-elect Donald Trump’s win on Election Day, which raised hopes for faster economic growth and lax regulations that would boost corporate profits.
Worries have risen that US President-elect Trump’s preference for tariffs and other policies could lead to higher inflation, a bigger US government debt and difficulties for global trade. Even so, the US market remains on pace to deliver strong returns for 2024. The benchmark S&P 500 is up 26.6 per cent this year and remains within roughly one per cent of the all-time high it set earlier this month — its latest of 57 record highs this year.
