With Christmas and New Year’s arriving back-to-back on the calendar, U.S. investors are heading into one of the year’s most timing-sensitive stretches—where a single afternoon can be the difference between getting a trade filled before the bell or waiting an extra day.
For Christmas 2025, U.S. stock exchanges run a shortened session on Christmas Eve (Wednesday, Dec. 24, 2025) and then close for Christmas Day (Thursday, Dec. 25, 2025). For New Year’s Day 2026, markets are closed on Thursday, Jan. 1, 2026, while New Year’s Eve (Wednesday, Dec. 31, 2025) remains a regular trading day for stocks. [1]
Adding to the year-end confusion: in the past week, market participants have been parsing a federal holiday move that does not change Wall Street’s trading calendar. Reuters reported on Dec. 18, 2025 that major U.S. exchanges—including Nasdaq and the NYSE—said they would remain open as scheduled on Dec. 24 and Dec. 26, despite a presidential order closing federal government offices on those dates. [2]
Below is the full, practical guide to the U.S. stock market holiday schedule for Christmas 2025 and New Year’s Day 2026, including what the hours mean for equities, options, and the bond market.
Christmas 2025: Is the U.S. stock market open on Christmas Eve and Christmas Day?
Wednesday, Dec. 24, 2025 (Christmas Eve): Early close for NYSE and Nasdaq
The New York Stock Exchange (NYSE) will close early at 1:00 p.m. Eastern Time on Wednesday, Dec. 24, 2025(Christmas Eve). The NYSE notes that eligible options close at 1:15 p.m. ET. [3]
Nasdaq’s published holiday schedule also lists an early close at 1:00 p.m. ET on Dec. 24, 2025. [4]
Time-zone quick check (Christmas Eve early close):
- 1:00 p.m. ET
- 12:00 p.m. CT
- 10:00 a.m. PT
Thursday, Dec. 25, 2025 (Christmas Day): Stock market closed
Both the NYSE and Nasdaq are closed on Thursday, Dec. 25, 2025, in observance of Christmas Day. [5]
Friday, Dec. 26, 2025: Markets reopen (regular session)
U.S. stock markets return on Friday, Dec. 26, 2025. And that matters this year because—despite federal office closures—major exchanges have confirmed a normal trading day after Christmas. [6]
The “what’s new this year” headline: Federal offices closed, but Wall Street stays open
In the days leading up to Christmas, a major question for investors has been whether a federal government closure would ripple into trading hours. It won’t.
According to Reuters (Dec. 18, 2025), major exchange operators—including Nasdaq, NYSE, Cboe Global Markets, and Investors’ Exchange—said they would stick to their previously planned trading calendar, including an early close on Dec. 24 and a regular full day on Dec. 26. [7]
The takeaway: Even if your bank branch, a government office, or a courthouse is closed, the stock market may still be open. Always use the exchange calendar—not the federal holiday calendar—as your source of truth.
Bond market hours around Christmas: Why stocks and bonds don’t always match
When headlines say “the markets close early,” they sometimes blend together stocks and bonds. But the bond market often follows a different playbook.
The Securities Industry and Financial Markets Association (SIFMA) recommends that the U.S. fixed-income market:
- Closes early at 2:00 p.m. ET on Wednesday, Dec. 24, 2025
- Is fully closed on Thursday, Dec. 25, 2025 [8]
So on Christmas Eve, you can have a situation where:
- Stocks stop at 1:00 p.m. ET, while
- Many bond desks run until 2:00 p.m. ET, depending on firm participation. [9]
New Year’s Day 2026: When do markets close, and what happens on New Year’s Eve?
Wednesday, Dec. 31, 2025 (New Year’s Eve): Stocks scheduled for normal hours; bonds often close early
A common misconception is that U.S. stocks close early on New Year’s Eve every year. For 2025’s New Year’s Eve, the key point is that Dec. 31 is not listed as a holiday or scheduled early-close day on the NYSE or Nasdaq exchange calendars, meaning equities are scheduled to trade during normal hours. [10]
However, for fixed income, SIFMA recommends an early close at 2:00 p.m. ET on Wednesday, Dec. 31, 2025. [11]
Time-zone quick check (bond market recommended early close on Dec. 31):
- 2:00 p.m. ET
- 1:00 p.m. CT
- 11:00 a.m. PT
Thursday, Jan. 1, 2026 (New Year’s Day): NYSE and Nasdaq closed
The NYSE lists New Year’s Day (Thursday, Jan. 1, 2026) as a market holiday, and Nasdaq’s holiday schedule also shows Jan. 1, 2026: Closed. [12]
Friday, Jan. 2, 2026: Trading resumes
After the New Year’s Day closure, the next regular U.S. trading day is Friday, Jan. 2, 2026. [13]
Why holiday trading hours matter more than they look
Shortened sessions can change the “feel” of the market—not because the rules are different, but because the participants are.
Here’s what typically shifts around Christmas and New Year’s:
- Lower liquidity: With many institutions staffing lightly, bid-ask spreads can widen and price moves can look jumpier.
- Earlier cutoffs: Brokerages, transfer agents, and some market infrastructure may set earlier operational deadlines on shortened days.
- More importance on timing: On Dec. 24, the closing process comes faster—so traders who normally wait for late-afternoon liquidity won’t have it.
For most long-term investors, the practical move is simple: double-check the clock, place time-sensitive orders earlier, and assume response times are slower across the financial system during the holiday week.
FAQ: U.S. Stock Market Holiday Schedule for Christmas 2025 and New Year’s Day 2026
Is the stock market open on Christmas Eve 2025 (Dec. 24)?
Yes—but it’s a shortened session. The NYSE closes at 1:00 p.m. ET (eligible options at 1:15 p.m. ET), and Nasdaq lists a 1:00 p.m. ET early close as well. [14]
Is the stock market open on Christmas Day 2025 (Dec. 25)?
No. NYSE and Nasdaq are closed. [15]
Will markets be open on Friday, Dec. 26, 2025?
Yes. Major exchanges said they will follow their planned schedule and trade normally on Dec. 26, even though federal offices are closed under a separate order. [16]
Is the stock market open on New Year’s Eve 2025 (Dec. 31)?
Yes. Dec. 31 is not listed as a holiday or early-close day on the NYSE or Nasdaq calendars for equities. [17]
Is the stock market open on New Year’s Day 2026 (Jan. 1)?
No. The NYSE and Nasdaq are closed on Thursday, Jan. 1, 2026. [18]
Bottom line
For the U.S. stock market holiday schedule around Christmas 2025 and New Year’s Day 2026, the dates that matter most are Wednesday, Dec. 24 (early close), Thursday, Dec. 25 (closed), Wednesday, Dec. 31 (normal stock session), and Thursday, Jan. 1 (closed)—with the added wrinkle that federal office closures this year do not change Wall Street’s calendar. [19]
References
1. www.nyse.com, 2. www.reuters.com, 3. www.nyse.com, 4. www.nasdaq.com, 5. www.nyse.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.sifma.org, 9. www.nyse.com, 10. www.nyse.com, 11. www.sifma.org, 12. www.nyse.com, 13. www.nyse.com, 14. www.nyse.com, 15. www.nyse.com, 16. www.reuters.com, 17. www.nyse.com, 18. www.nyse.com, 19. www.reuters.com
