Today, November 11, 2024, as the nation pauses to honor its veterans, the financial world presents a mixed picture. While the stock market continues its operations uninterrupted, the bond markets have closed in observance of Veterans Day. This split in activity has sparked renewed interest in the holiday schedules of different financial instruments.
Reports confirm that both the New York Stock Exchange and Nasdaq are operating under their regular hours today. This decision aligns with the historical pattern of the stock market remaining open on Veterans Day, even though it is a federal holiday. This contrasts with the bond markets, which have paused their activities for the day. They will resume trading tomorrow, November 12th. Over-the-counter markets are also maintaining their normal operating hours.
This year’s Veterans Day follows a period of robust market performance. The Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite have all seen substantial gains over the past year, fueled in part by recent political and economic developments. Last week’s surge in the markets, triggered by the presidential election results, underscores the current dynamism of the stock market.
The decision to keep the stock market open on Veterans Day, while closing bond markets, highlights the differences in these financial instruments. While both play crucial roles in the economy, their trading patterns and holiday schedules are distinct.
The closure of major banking institutions today further complicates the financial landscape. Many large banks, including Wells Fargo, Bank of America, JPMorgan Chase, and TD Bank, have closed their branches in observance of the holiday. The Federal Reserve banks have also suspended operations. Customers needing banking services today are advised to check their bank’s website or mobile app for specific branch hours or utilize online banking services.
While the U.S. commemorates Veterans Day, international markets continue their regular operations. The London Stock Exchange, the Hong Kong Stock Exchange, and the Shanghai Stock Exchange, among others, are open today, unaffected by the U.S. holiday.
Beyond the financial world, other services are also impacted by Veterans Day. Post offices are closed, and mail delivery is suspended for the day. However, most retail stores and businesses remain open, though some may have adjusted hours. Many restaurants are offering special discounts and free meals to veterans and active military members.
Looking ahead, the stock market is scheduled to close for Thanksgiving on November 28th and Christmas on December 25th. These two holidays represent the remaining full closures for the stock exchanges this year. Partial closures, with early closing times, are also planned for the day after Thanksgiving (Black Friday) and Christmas Eve. Bond markets will also observe these partial closures, with early closing times scheduled for Black Friday, Christmas Eve, and New Year’s Eve.
The stock market’s resilience and continued operation amidst national holidays, while other parts of the financial world pause, serves as a testament to its central role in the global economy. As the markets continue to evolve in response to global events, understanding the nuances of holiday schedules and operational patterns becomes increasingly important for investors and financial professionals alike.
