Blame it with ambiguous rules. For the first time in 10 years, the US stock market will not be closed in compliance with Saturday’s New Year’s Day.
The US market opens on Friday, December 31, New Year’s Eve, and New York Stock Exchange operators have not designated January 3, the first Monday of 2022, as a holiday instead of New Year’s Day.
The last time this kind of calendar event happened was on New Year’s Eve 2010.
How rare is this calendar event? If applied after 1928, it is believed to have occurred 13 times since 1928.
Lack of New Year’s rest for stock traders, NYSE Rule 7.2This means that if the holiday falls on a weekend, the exchange will be closed on either Friday or the following Monday, unless “abnormal business conditions such as the end of the monthly or annual accounting period exist”. It is stipulated.
In this case, the last day of December is three accounting days, including the end of the month, the end of the quarter, and the end of the year, which occurs when the market experiences a year-end rebound.
The US bond market will also open on Friday, but the securities industry financial markets association, which oversees bond trading, recommends closing bond trading, such as 10-year government bonds, at 2:00 pm.
1 hour early.
As part of that, this year’s US stock market got off to a great start to the Santa Claus rally. This is usually defined as trading in the last 5 sessions of the year and the first 2 days of the new year. In decades..
Investors have essentially dismissed concerns about the economic impact of the Omicron variant of COVID.Dow Jones Industrial Average
And S & P 500
The Nasdaq Composite is on track to rise by more than about 5% in December, rising at least 1.5% a week.
As of Thursday afternoon, we were seeing a rise of about 2% a month and 1% a week.
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Will the US Stock Market Close on Friday for New Year’s Eve? no. It is not closed on Mondays either. This is the reason!
Source link Will the US Stock Market Close on Friday for New Year’s Eve? no. It is not closed on Mondays either. This is the reason!