Stock market holiday: Following a stock market holiday in the US on Thursday, November 27, on account of Thanksgiving, investors might be wondering if the market is closed or open for trading today, November 28.
Well, while the US stock market is open today on Black Friday — the day after Thanksgiving — there's a catch. Wall Street will witness a shorter trading session, meaning the trading will not be for the usual entire day, with the markets slated to close earlier.
Therefore, the US market will open from 8:00 pm to 12:30 am IST.
According to a report in Barron's, the S&P 500 has historically risen during the period that begins on the Wednesday before Thanksgiving and ends a week after Black Friday.
Last year, the benchmark index gained 1.5% during this period, according to Dow Jones Market Data. The S&P 500 rose by 0.8% during this window in 2023 and by 1.1% in 2022—rebounding on the heels of a pandemic that caused it to fall 3.5% in 2021, the report added.
Black Friday, while a holiday, has also earned the reputation of being one of the liveliest shopping days of the year in the US. The shopping bonanza originated in the US and spread globally, including India. The occasion purportedly gets its name from the mid-twentieth century, when tourists flocked to Philadelphia in advance of the annual Army-Navy college football game.
US stock market holidays
Apart from today, the US stock market will see another shorter trading session in December on account of Christmas Eve, with a full holiday on Christmas Day.
US stock market trend
Ahead of the Thanksgiving holiday on Thursday, the US stock markets had closed higher for the fourth consecutive day on Wednesday, buoyed by expectations of an interest rate cut by the US Federal Reserve at its upcoming meeting in December.
The S&P 500 Index closed 0.7% higher while the tech-heavy Nasdaq 100 Index gained 0.87%.
November has been a jittery month for the market, with both the S&P 500 and Nasdaq 100 retreating from their record highs in late October. According to a Bloomberg report, indices remain on a path to break their streak of monthly gains amid a selloff in the artificial intelligence stocks amid valuation concerns.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
