(Market Watch, Nov 25, 2020) - U.S. financial markets are closed on Thursday this week for the Thanksgiving holiday and will shutter early on Black Friday but despite a pandemic and huge volatility this year in markets, investors and traders may not need to search too hard for reasons to be thankful.
Indeed, the Dow Jones Industrial Average touched a historic milestone of 30,000 on Wednesday as investors focused on progress towards a coronavirus vaccine and the likelihood that the viral outbreak can soon be placed in the rearview mirror.
Investors have also fretted about the bumpy road to a Biden administration given President Trump’s refusal to concede the Nov 3 election.
So a brief respite may be just what the epidemiologist prescribed.
Beyond Thursday’s closure, since 1992, stock exchanges have adhered to an abbreviated trading schedule the Friday after Thanksgiving in the U.S.
The New York Stock Exchange and the Nasdaq will close at 1p.m. Eastern time on Friday, while the Securities Industry and Financial Markets Association recommends a 2p.m. Eastern close for bond markets.
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