what are the stock market holidays

A practical guide explaining what are the stock market holidays in the U.S., which days are full closures vs early closes, how settlements and trading hours are affected, and where to find authorit...

2025-09-23 10:05:00

By Ravi Clark

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Stock market holidays

Brief lead:

If you've asked "what are the stock market holidays" you want to know the scheduled dates when major U.S. securities exchanges suspend normal trading (full closures) or run shortened sessions. This article explains what counts as a stock market holiday, lists typical full-closure and early-closing days for NYSE and Nasdaq, covers exchange-specific differences (including options and bond markets), and summarizes practical impacts on settlement, order handling and investor planning. Read on to learn how holidays affect trading hours, settlement cycles (including the post-2024 move to T+1), and where to confirm the definitive calendar each year.

Note: this article focuses on U.S. national exchanges (NYSE, Nasdaq and related markets) unless otherwise noted.

Definition and scope

A stock market holiday is a scheduled date when a securities exchange suspends its normal trading session (a full closure) or operates on a shortened schedule (an early-closing day). In the U.S. context the phrase typically covers cash equity markets, listed options and many exchange-traded products. Some related venues — such as bond trading platforms, alternative trading systems, and regional exchanges — may adopt different observance rules.

When people ask "what are the stock market holidays," they usually mean the set of dates the NYSE and Nasdaq publish each year. Those calendars define: full closure days (no regular trading), early-closing days (shortened core session), and special operational notes such as adjusted pre-market or after-hours sessions. Exchanges publish precise schedules well ahead of the calendar year; firms and brokers use those schedules to plan settlement, clearing and client notices.

Standard U.S. stock market holiday calendar

The NYSE and Nasdaq follow a largely similar set of annual holidays. Good Friday is observed by the exchanges even though it is not a federal holiday. Exact dates and early-close times can vary year-to-year, and exchanges occasionally announce one-off closures for extraordinary events.

Full closure days (typical list)

Commonly observed full-closure holidays for U.S. national equity exchanges include:

New Year's Day (January 1)
Martin Luther King, Jr. Day (third Monday in January)
Washington’s Birthday / Presidents’ Day (third Monday in February)
Good Friday (Friday before Easter Sunday)
Memorial Day (last Monday in May)
Juneteenth National Independence Day (June 19)
Independence Day (July 4)
Labor Day (first Monday in September)
Thanksgiving Day (fourth Thursday in November)
Christmas Day (December 25)

Note: When a fixed-date holiday (New Year’s Day, Juneteenth, Independence Day, Christmas Day) falls on a weekend, exchanges typically observe the holiday on the nearest weekday (see the Observance rules section). Also, the list above is a typical annual set — specific observed dates and rare deviations are published by each exchange for the current year.

Early-closing days

Exchanges also designate customary early-closing sessions. Typical early-close days and times include:

The day before Independence Day (if it falls on a weekday): early close, typically at 1:00 p.m. ET.
The day after Thanksgiving (Black Friday): early close, typically at 1:00 p.m. ET for equities; some options sessions close at 1:15 p.m. ET.
Christmas Eve (December 24), if it falls on a weekday: early close, typically at 1:00 p.m. ET.

Early-close times and which products are affected (equities, options, exchange-traded products) can change annually — always check the exchange calendar and broker notices for the specific year. When an early close coincides with a high-impact economic event or market stress there can be additional operational guidance from clearing firms and regulators.

Exchange- and market-specific schedules and differences

Exchanges publish official calendars and operational notices; market participants should rely on those authoritative schedules rather than third-party summaries. Different venues and instruments can follow different rules:

Listed options and some derivative venues may have slightly different early-close times (for example, a 15-minute offset for options versus cash equities).
Bond and fixed-income trading venues can have alternate observance rules and may close on days equities are open or vice versa.
Extended hours (pre-market and after-hours) system availability is also defined by each exchange and can be shortened or suspended on early-close days.

NYSE (and NYSE group markets)

The New York Stock Exchange publishes an annual holidays and trading hours schedule that lists full closures, early-close sessions, and the treatment of holidays that fall on weekends. When a holiday date falls on a Saturday the NYSE commonly observes it on the prior Friday; when it falls on a Sunday the observation usually moves to Monday. The NYSE calendar also specifies system open/close times for pre-market and post-market connectivity used by broker-dealers and market data systems. For definitive dates and any one-off announcements, consult the NYSE's published calendar.

Nasdaq

Nasdaq provides a similar trading schedule that lists holidays, early closes and system hours including pre-market and after-hours windows. Nasdaq system hours differ from core market hours; for example, typical Nasdaq pre-market system hours begin early in the morning and the after-hours session can extend into the evening, but these windows are sometimes shortened or suspended on holiday or early-close days. Nasdaq also notes observance rules for weekend holidays and special market notices.

Bond markets, options markets and other venues

Bond markets and some options venues may have different holiday policies. For example:

Certain U.S. Treasury trading desks or interdealer electronic platforms may close or operate reduced sessions on days when equities are open.
Listed options exchanges sometimes close trading 15 minutes after the related equity early close (for example, 1:15 p.m. ET) while equities close at 1:00 p.m. ET.

Because model behavior varies, brokers and institutional traders verify calendars for each venue they access. Clearinghouses and central counterparties publish their own operational calendars tied to settlement and margin schedules.

Observance rules and special cases

When a fixed-date holiday falls on a weekend the exchanges adopt standard observance rules:

If the holiday falls on a Saturday, exchanges commonly observe the holiday on the preceding Friday.
If the holiday falls on a Sunday, exchanges commonly observe the holiday on the following Monday.

These "observed" dates are the operative days for trading suspension or early close. Additionally, exchanges may declare extraordinary closures or modified hours for major national events (for example, days of national mourning or significant operational incidents). Such closures are exceptional and are announced by the exchange and regulators with guidance to clearing firms and brokers.

Regular trading hours and extended hours on trading days

Core equity trading hours for U.S. national exchanges are:

Regular session (core trading): 9:30 a.m. – 4:00 p.m. ET.

Typical extended sessions (times can vary by exchange and by year):

Pre-market / extended morning session: starts as early as 4:00 a.m. ET on some systems; many brokers provide access beginning at 7:00 a.m.–8:00 a.m. ET.
After-hours / extended evening session: commonly runs to 8:00 p.m. ET on Nasdaq systems; broker access may end earlier.

On early-closing days the core session is often shortened to an approximate 9:30 a.m.–1:00 p.m. ET window for equities; options sessions may end at 1:15 p.m. ET. Some broker platforms restrict client access to pre-market or after-hours trading entirely on early-close days, so retail traders should confirm with their executing broker.

Operational effects of holidays

Holidays affect more than just the visible trading screen. Key operational impacts include:

Clearing and settlement: Bank holidays and exchange closures affect settlement timelines and the availability of payment systems (wires, ACH). Since the U.S. move to T+1 settlement for most listed equities on May 28, 2024, an observed market holiday can shift the effective settlement date. For example, a trade executed on a day immediately before an exchange-observed holiday may settle later because clearing and payment rails are not operating that holiday.
Banking and wire transfers: On federal and bank holidays, correspondent banks and payment systems may not process wires or transfers, affecting margin funding and settlement flows.
Order processing and routing: Some broker systems queue or delay order routing near early-close sessions; marketable orders placed close to a shortened close may execute at unexpected prices due to reduced liquidity.
Margin calls: Clearing firms and brokers continue to monitor positions over holidays; margin notices may be issued before a holiday and funding deadlines remain subject to banking operating days.
Market data and regulatory reporting: FINRA and other regulators publish reporting calendars and may adjust trade reporting or surveillance schedules around holidays. Brokers typically issue notices about any delayed reporting windows.

Regulatory and industry calendars (exchange and FINRA) are the authoritative source for operational planning. When in doubt, check the exchange notices and broker communications.

Market impact and investor considerations

Holidays and early-close sessions tend to influence market behavior in predictable ways:

Lower liquidity: Volume often drops in the sessions immediately before and after a holiday, which can widen spreads and increase the risk of price slippage for large orders.
Volatility spikes on reopenings: When markets reopen after a long holiday weekend, information accumulated while markets were closed can cause concentrated price moves as traders adjust positions.
Gaps in pricing: Overnight or weekend news cannot be immediately reflected in exchange prices until trading resumes, producing open gaps.
Order placement guidance: Investors should avoid relying on market-on-open or market-on-close instructions without understanding early-close schedules. Limit orders can help control execution price when liquidity is thin.
Broker and exchange notices: Before engaging in sizeable trades around holidays, check broker-specific trading hours and any exchange bulletins about restricted access to extended hours or unusual routing instructions.

Best practices for investors include verifying the exact holiday schedule for the year, confirming broker operating hours on holiday-adjacent days, and sizing orders to account for thinner liquidity.

Annual publication, updates and authoritative sources

Official calendars and operational notices come from the exchanges and industry regulators. The following organizations publish authoritative holiday schedules and operational guidance:

NYSE / ICE: official NYSE holidays and trading hours calendar.
Nasdaq: trading schedule and holiday notices.
FINRA: reporting and operational calendars linked to regulatory filing and surveillance windows.
U.S. securities regulators (SEC / Investor.gov): general guidance on exchange hours and market structure.
Major brokerage firms: broker calendars and client notices (used for practical access and routing details).

As of 2025-12-01, per NYSE and Nasdaq published calendars, the exchanges maintain the standard holiday list described above but publish the exact observed dates for each upcoming year. When you need certainty about "what are the stock market holidays" for a specific year, consult the current exchange calendar and your broker's holiday notice.

Examples: 2025–2028 calendars (illustrative)

Year-to-year calendars list specific observed dates and early closes. For example, exchanges typically publish PDFs or press releases for the next calendar year listing observed dates and early-close times. These official publications should be used for planning; third-party summaries are helpful but secondary. Examples and past-year calendars illustrate how observance shifts when holidays fall on weekends and how early-close windows are assigned.

For practical planning, confirm:

Whether a fixed-date holiday is observed on a weekday or shifted due to a weekend occurrence.
Exact early-close clock times (usually 1:00 p.m. ET for equities, 1:15 p.m. ET for some options sessions).

Seek the current-year PDF from the exchange and your broker's calendar for trade-day operational details.

References and official resources

Sources and authoritative publishers to consult for definitive schedules and operational guidance (no hyperlinks provided here):

NYSE Holidays & Trading Hours (NYSE / ICE official calendar)
Nasdaq Trading Schedule and Holiday pages
FINRA Holiday Calendar for reporting and regulatory tools
SEC / Investor.gov guidance on exchange hours and holiday schedules
Major broker holiday calendars (example: Charles Schwab client holiday notices)
Market coverage summaries for public-friendly overviews (e.g., MarketBeat, Motley Fool)

As of 2025-12-01, per exchange publications and industry notices, the NYSE and Nasdaq list the holidays and early-close days described in this guide.

Practical checklist before a holiday or early-close day

Confirm the exchange's official calendar for the specific year and the observed date for fixed-date holidays.
Check your broker's client notice for platform-specific access to pre-market and after-hours trading.
Anticipate settlement effects, especially after the transition to T+1 settlement implemented in May 2024.
Consider limit orders and smaller order sizes to reduce execution risk in lower-liquidity sessions.
Review margin notices from your broker and ensure funding for any required margin before bank cutoffs.

Examples of dated, authoritative notes and industry context

As of 2025-12-01, per NYSE and Nasdaq published calendars, the exchanges list Good Friday among the observed closures even though Good Friday is not a federal holiday.
As of May 28, 2024, per SEC and industry publications, U.S. listed equities moved to a T+1 settlement cycle; this change affects how holidays influence final settlement dates.
As of 2025-12-01, combined U.S. equity markets represent a multi‑trillion-dollar marketplace: annual and daily trading volume metrics reported by exchanges and market data providers commonly place average daily dollar volumes in the hundreds of billions range, underscoring why exchange holiday schedules matter to clearing and payment systems.

Investor takeaways and next steps

Understanding "what are the stock market holidays" helps you avoid surprises in execution, settlement and margin handling. Before trading near a holiday, verify the official exchange calendar and your broker's operating hours for that date. For trading and custody services, consider the integrated infrastructure and operational reliability of your chosen venue — for crypto and Web3 asset needs, the Bitget platform and Bitget Wallet are available options to explore for unified custody and trading interfaces.

Further explore Bitget's product pages and wallet features to see how integrated platforms manage trade execution and custody across different market schedules.

References (selection): Exchange calendars and regulatory guidance from NYSE, Nasdaq, FINRA, SEC/Investor.gov; broker holiday calendars; market commentary sources such as MarketBeat and Motley Fool.

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