The financial markets in the USA will be closed on Thanksgiving Day. The US stock market will be closed on Thursday, November 28, and close early on Friday, November 29.

After regular trading on Wednesday, the Nasdaq and New York Stock Exchange will both be closed on Thursday. Markets will open on Friday, November 29, but close early at 1 p.m. ET. The U.S. bond market will also be closed on Thursday and are scheduled to close at 2 p.m. ET on Friday, according to the Securities Industry and Financial Markets Association.

On Friday, November 29, the day after Thanksgiving, the United States of America celebrates Black Friday

After the Thanksgiving holiday and the early closure of Black Friday, Wall Street will resume normal operations until late December. The next scheduled stock market closure is on Wednesday, December 25, on account of Christmas. Markets are also set to close early at 1:00 p.m on Christmas Eve.

The US stock market has been on a roll with leading indices closing at several record highs for the year.

However, stocks slumped Wednesday ahead of the Thanksgiving holiday, driven primarily by drops in shares of technology companies. According to recent data, the price index for personal consumption expenditures (PCE), which is the preferred indicator of underlying inflation used by the U.S. Federal Reserve, increased as predicted. The U.S. economy grew steadily in the third quarter, according to another reading.

Soon, attention will turn to whether the 2024 Santa Claus rally will take place.

With interest rates being lowered, and Trump’s economic policies supporting the US economy, the stage appears to be set in US markets. The corporate earnings have also been robust so far in the current quarter.

Historically, December has been a good month for stock market seasonals, with significant returns typically concentrated in the second half of the month, hence the Santa Claus Rally axionym.

“Wall Street’s record highs reflect the market’s resilience in geopolitical and economic tensions. However, the sustainability of this growth will largely depend on the evolution of U.S. trade policies and the Federal Reserve’s decisions in the coming months. A combination of trade uncertainty and monetary adjustments will be critical in shaping the trajectory of financial markets and the global economy,” says Antonio Di Giacomo, Senior Market Analyst at XS.com