Is The Stock Market Closed On Thanksgiving? Traders Prepare for a Holiday Break
Portfolio Pulse from Piero Cingari
The U.S. stock market, including NYSE and Nasdaq, will be closed on Thanksgiving Day, Nov. 23, 2023, and will close early on Black Friday, Nov. 25, 2023. Major U.S. equity ETFs like QQQ, SPY, DIA, and IWM have shown varied performance year-to-date. Historically, Thanksgiving week sees thinner trading volumes but can lead to a 'Thanksgiving Rally' with the S&P 500 averaging a 0.54% increase in the past 50 years. Post-Thanksgiving, market focus will shift to retail data from Black Friday and Cyber Monday sales.
November 23, 2023 | 1:21 pm
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NEUTRAL IMPACT
SPDR Dow Jones Industrial Average ETF has gained 6.4% YTD to $352.56. It may see limited short-term impact from the Thanksgiving closure but could react to Black Friday sales data.
DIA's performance is less likely to be affected by the Thanksgiving closure itself, but the ETF could see short-term volatility based on the retail data from the holiday shopping season.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
iShares Russell 2000 ETF has edged 2.7% higher YTD to $178.13. The ETF could see short-term effects from the Thanksgiving market schedule and subsequent retail sales data.
IWM, which tracks small-cap stocks, may not be directly impacted by the Thanksgiving closure but could be sensitive to the retail data that follows, affecting short-term performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Invesco QQQ Trust has rallied 47.5% YTD to $390.08. The Thanksgiving closure may not impact this trend, but post-holiday retail data could influence the ETF.
While the market closure on Thanksgiving is a known event unlikely to impact the ETF's performance, the subsequent retail data could have a short-term influence on the tech-heavy index that QQQ tracks.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
SPDR S&P 500 ETF Trust has risen 18% YTD to $455.02. The ETF may experience the 'Thanksgiving Rally' effect, with historical data showing a positive trend during the holiday week.
SPY, which tracks the S&P 500, may be positively impacted by the 'Thanksgiving Rally', a historical pattern of market performance during the holiday week. Upcoming retail data will also be crucial for short-term movement.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70