Wall Street is looking forward to happy holidays and a farewell to a pandemic-stricken 2021, with the last two weeks in December representing abbreviated sessions.
On Thursday, the New York Stock Exchange and Nasdaq will end trading at 1 p.m. Eastern Time (and 1:15 p.m. for some options contracts), while the Securities Industry and Financial Markets Association recommends a 2 p.m. close for trading in bonds, including the 10-year Treasury note TMUBMUSD10Y, 0.926%.
U.S. stock markets, energy and gold futures, meanwhile, will be open for the full trading day on New Year’s Eve, while Sifma recommends a 2 p.m. close for the bond market.
Most global financial markets will be closed on Friday, Jan. 1, 2021, for New Year’s Day.
Equity markets are aiming to close out December and 2020 on a high note after a historic, gut-wrenching year that will go down in the annals of the market. The Dow Jones Industrial Average DJIA, -0.67% was set to close out the month up 2%, with a 5.9% year-to-date gain so far, the S&P 500 index SPX, -0.21% was looking at a 2% rise in December and an over 14% annual return, while the Nasdaq Composite Index COMP, +0.51% was on track for a 4.5% rally on the month and a nearly 42% year-to-date rise.