US financial markets are closed Thursday this week for the Thanksgiving holiday and will close early on Black Friday, but despite the pandemic and the huge volatility in the markets this year, investors and traders may not need to look very seriously for reasons to be grateful.
In fact, the Dow Jones Industrial Average
Wednesday I touched a historical milestone of 30,000 as investors focused on progressing towards a coronavirus vaccine and the possibility of putting a virus outbreak soon in the rear view mirror.
Investors have also expressed concern about the bumpy road to the Biden administration given President Trump’s refusal to waive the November 3 election.
So the short rest period may be what the epidemiologist described.
After closing Thursday, since 1992, exchanges have committed to a brief trading schedule on the Friday after Thanksgiving Day in the United States.
The New York Stock Exchange and Nasdaq will close at 1 p.m. ET on Friday, while the Securities Industry and Financial Markets Association recommends that bond markets close at 2 p.m.
– The lockdown was tentatively called for 2 PM EST for the Friday after Thanksgiving in 1992, two hours before the regular closing bell at 4 PM. But the following year, the exchanges chose to close the markets three hours earlier, at 1 pm
Black Friday is the official start of the holiday shopping season, with many retailers offering deals for those looking for holiday gifts.
There is a good reason for the early shutdowns.
In general, trading activity on the Wednesday before Thanksgiving and the Friday that follows is usually a fraction of what it is during normal trading periods other than holidays. Here’s a look at average trading volumes since 2010 on the day before and after Turkey Day (as well as July 4 and Christmas Eve), according to market data from Dow Jones:
However, market performance in recent years during the “Turkey Day” week has been times higher than not.
It ends up 69% of the time, a trend that dates back to the index’s inception in the 1950s, while the Dow Jones is up 63% of the time. Gains
Many Americans are still planning to fly and travel this year despite the sharp rise in COVID-19 and cases Induction From the Centers for Disease Control and Prevention Not to travel for Thanksgiving.
In other markets, there is US floor trading for metals
And energy contracts
At Comex and the New York Mercantile Exchange on Thanksgiving Day.
On Black Friday, metals will stabilize at 12:30 PM, and US crude oil will stabilize at 1:30 PM
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