NYSE 2009 – 2010 Holiday Schedule

Normally the hours for the New York Stock Exchange are from 9:30 AM to 4:00 PM (Eastern Time) Monday through Friday. However the stock market does close for certain holidays and occasionally for other extraordinary events.

* The NYSE Trading Floor will close early on Friday, November 27, 2008 (the day after Thanksgiving) and Friday, November 28, 2009. The NYSE Trading Floor will also close early on Wednesday, December 24, 2008 and Thursday, December 25, 2009. On these days, the Trading Floor will close at 1:00 p.m.

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What Could Close the Stock Markets Unexpectedly?

Since 1953, the exchanges have attempted to reduce the number of official closing days, knowing that investors want the markets open as long as possible.

There is growing pressure, with the Internet and computerized trading, for markets to be open 24/7. But breaks in trading on weekends help moderate volatility, and many trading professionals need this downtime. Additionally, no one wants to hear that the stock market has crashed on a Sunday morning.

Since 1885, the New York Stock Exchange (NYSE) has unexpectedly closed for a number of reasons:

• Computer failures: Circuit breakers (the NYSE is required to stop trading when the market declines by a certain percentage)
• Power failures, especially in the 1970s
• Hurricanes
• War (the exchange was closed for 5 months in 1914 at the beginning of World War I, but was never closed for World War II).
• Terrorist attacks (September 11-14, 2001)

Items of Note on the NYSE Holiday Schedule:

Although the third Monday in February has become popularly known as President’s Day, the NYSE still follows the original designation of Washington’s Birthday as an Exchange holiday.
Washington’s Birthday was first declared a federal holiday by an 1879 act of Congress and then modified by The Monday Holiday Law, enacted in 1968. That law shifted the date of the commemoration of Washington’s Birthday from February 22 to the third Monday in February, that is used to this day.

First, whenever a president dies, the exchanges select a day of mourning. For example: January 2nd was chosen as the day to mourn the passing of President Gerald Ford.

Second, the stock exchanges, particularly the NYSE on Wall Street and the London Stock Exchange in England; close on the Christian holidays of Good Friday and Christmas.

Third, Wall Street is very traditional. They have refused to change Washington’s Birthday observance to President’s Day. Until 1953, they observed Lincoln’s birthday (February 12), Columbus Day (October 12), Veterans Day (November 11), and often Election Day (the first Tuesday of November).

Although the NYSE closed on the funeral day of Martin Luther King Jr. in 1968 – the first time they did so in honor of a private citizen – the Exchange resisted adding Martin Luther King Day until 1998, years after it was declared a national holiday. (The Exchange did close to honor the death of J. P. Morgan in 1913, but only for two hours.)

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