Text size
A Christmas tree in front of the New York Stock Exchange in New York, on Dec. 9, 2020.
Michael Nagle/Bloomberg
Christmas Eve is here, and it comes at a hectic time for traders and Washington, D.C., observers. President Donald Trump threw a wrench in the bipartisan $900 billion relief bill Tuesday night, when he called for Congress to amend the package to include larger direct relief payments and cuts to what he viewed as “wasteful and unnecessary items.”
The
S&P 500 index
closed up slightly on Wednesday, bringing year-to-date gains to 14.2%. The
Dow Jones Industrial Average
sits at 30,129.83, up 5.6% in 2020. Congress is now scrambling to get relief across the finish line. In the meantime, investors will get a much-needed break in the action, starting on Christmas Eve.
Is the Stock Market Closed on Christmas Eve and Christmas Day 2020?
The New York Stock Exchange and Nasdaq will close at 1 p.m. Eastern time on Christmas Eve. Both will be shut on Friday for Christmas Day. U.S. bond markets and U.S. over-the-counter markets will also close at 2 p.m. on Dec. 24, and all day on Dec. 25.
Are Foreign Stock Exchanges Open on Christmas Eve and Christmas Day 2020?
The Shanghai Stock Exchange and Tokyo Stock Exchange will be open both days. The Hong Kong Stock Exchange closes at noon local time on Christmas Eve, and all day on Christmas Day.
The Toronto Stock Exchange ends its session at 1 p.m. ET on Christmas Eve. It will be closed on Christmas Day. The
London Stock Exchange
will close at 12:30 p.m. GMT on Thursday, and all day on Friday.
Can I Take Christmas Eve Off Anyway?
You wouldn’t be alone. Christmas Eve typically sees far lower volume than an average day. Going back to 2007—excluding years when Christmas Day fell on a weekend—the average Christmas Eve volume on the NYSE Composite and Nasdaq Composite was 36.8% of a normal day during that period, according to data from FactSet compiled by Dow Jones Market Data.
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 Christmas Eve, higher than its daily average gain of 0.13%, according to Dow Jones Market Data. But the index’s average move on Christmas Eve is 0.48%, lower than its daily average move of 0.74%.
Write to Connor Smith at connor.smith@barrons.com
[ad_2]
Source