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The New York Stock Exchange (NYSE) closes for nine holidays in 2022, and the Nasdaq Stock Market follows the same schedule. The exchanges are not commemorating New Year’s Day (see below), so the next holiday closure is on Monday, Jan. 17, for Martin Luther King Jr. Day.
Here is the 2022 holiday schedule for the NYSE and Nasdaq:
- Martin Luther King Jr. Day: Monday, Jan. 17
- Washington's Birthday/Presidents Day: Monday, Feb. 21
- Good Friday: Friday, April 15
- Memorial Day: Monday, May 30
- Juneteenth National Independence Day: Monday, June 20 (observed, because June 19, the date of the Juneteenth holiday, falls on a Sunday)
- Independence Day: Monday, July 4
- Labor Day: Monday, Sept. 5
- Thanksgiving: Thursday, Nov. 24
- Christmas: Monday, Dec. 26 (observed, because Christmas Day falls on a Sunday)
Under NYSE Rule 7.2, which governs the exchange’s holiday observances, the stock markets close on the Friday before a holiday that falls on a Saturday and on the Monday after one that falls on a Sunday — “unless unusual business conditions exist, such as the ending of a monthly or yearly accounting period.”
That clause means the markets won’t close on Friday, Dec. 31, 2021, because it marks the end of a monthly, quarterly and yearly accounting period, requiring a full day’s trading. This last happened 11 years ago, when Jan. 1, 2011, fell on a Saturday.
The exchanges typically operate from 9:30 a.m. to 4 p.m. ET on business days. They will close early once in 2022, shuttering at 1 p.m. ET on Nov. 25, the day after Thanksgiving, also known to shoppers as Black Friday.
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Bond market and bank holidays differ
Bond traders follow a more expansive holiday calendar under guidelines set by the Securities Industry and Financial Markets Association (SIFMA), a trade group that represents securities firms, banks and asset management companies. It includes early closure (at 2 p.m. ET) on New Year’s Eve, Friday, Dec. 31, 2021.
In 2022, U.S. bond markets close on the nine days the stock exchanges are silent as well as Columbus Day (Monday, Oct. 10) and Veterans Day (Friday, Nov. 11). Like the NYSE and Nasdaq, the bond markets are adding the new Juneteenth federal holiday.
The bond markets close early six times in 2022, shutting down at 2 p.m. ET on the day before Good Friday, the Friday before Memorial Day, the Friday before Independence Day, Black Friday, Christmas Eve (observed on Friday, Dec. 23), and New Year's Eve (observed on Friday, Dec. 30, 2022).
The stock market calendar also differs from the Federal Reserve System holiday schedule followed by most U.S. banks. The Fed observes Columbus Day and Veterans Day, does not take Good Friday off and does not have any formally scheduled early closing days.
Stock exchanges rarely sleep for long
Except in rare circumstances, three-day holiday weekends are the longest time the stock market goes quiet. The exchanges have closed for more than three days running only a handful of times in the past century, most recently during Superstorm Sandy in 2012 and after the 9/11 attacks in 2001.
The three-day limit is not a formal policy, but rather a rule of thumb that prevents “investor angst” from building up during an extended down period and creating volatility when the market reopens, says Sam Stovall, chief investment strategist at the investment research firm CFRA.
"There's an old saying that bull markets take the escalator while bear markets take the elevator,” Stovall says. “Since fear is a greater motivator than greed, I think investors don't want to be denied access to their money for too long. Otherwise they end up taking money off the table, especially if some unnerving event occurred while the exchange was closed.”
Andy Markowitz is a contributing writer and editor for AARP, covering Social Security and fraud. He is a former editor of The Prague Post and Baltimore City Paper.
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