By Jessica Murdock
The US stock markets will observe a modified schedule for the Thanksgiving holiday this year. On Thursday, November 28, both the Nasdaq Stock Exchange and the New York Stock Exchange (NYSE) will remain closed in observance of the Thanksgiving holiday. However, on Friday, November 29, the stock markets will open for a half day, with an early closure at 1 p.m. EST (Eastern Standard Time).
In addition, the US bond market will also be closed on Thursday, November 28, and will close early at 2 p.m. EST on Friday, November 29. Following the Thanksgiving break, regular trading will resume next week.
Wall Street Market Closures and Early Closures
- Thursday, November 28: Both the Nasdaq and NYSE will be closed for Thanksgiving.
- Friday, November 29: Early market closure at 1 p.m. EST for both the Nasdaq and NYSE.
- Bond Market: Closed on Thursday, with early closure at 2 p.m. EST on Friday.
After this brief holiday pause, the next scheduled market closure will be on Wednesday, December 25, for the Christmas holiday. Additionally, markets are expected to close early on Christmas Eve.
Stock Market Update
Ahead of the holiday, Wall Street saw a slight downturn on Wednesday, November 27. Traders booked profits before the extended break, which led to a drop in the S&P 500 (down 0.4%), the Dow Jones Industrial Average (down 0.3%), and the Nasdaq composite index, which fell 0.6%, primarily due to losses in Big Tech stocks.
Global Market Performance
While Wall Street was preparing for its holiday break, European markets rebounded from previous losses. On Thursday, Germany’s DAX rose by 0.7%, the CAC 40 in Paris gained 0.6%, and the FTSE 100 in London increased by 0.2%. These gains followed a mixed Asian session, where Japan’s Nikkei 225 saw a 0.6% gain and Australia’s S&P/ASX 200 rose by 0.5%. However, Chinese stocks dropped slightly as investors locked in profits from recent gains.
Key Market Concerns
Concerns over potential US tariffs targeting Europe under President-elect Donald Trump weighed on European markets. Christine Lagarde, the president of the European Central Bank, emphasized the need for cooperation between the European Union and the incoming US administration to avoid a trade war.
In Asia, the Kospi index in South Korea gained marginally by 0.1%, following the Bank of Korea’s decision to cut its benchmark interest rate to 3%. This move aims to relieve pressure on the country’s slowing economy.
On the global stage, rising tariff fears, particularly regarding China, continued to impact market sentiment. Meanwhile, Russia’s ruble weakened sharply against the US dollar, hitting its lowest point since the 2022 invasion of Ukraine.
Looking Ahead
As the holiday trading period winds down, markets will return to normal trading next week. Investors will be closely monitoring global developments, including trade relations and economic policies, which could influence market movements in December.
