NEW YORK, January 2, 2026, 09:38 ET
Wall Street opened the first trading session of 2026 on Friday after U.S. markets closed on New Year’s Day. 1
The holiday schedule matters for investors placing orders, moving cash and managing risk after a midweek pause. It can also thin out trading in some assets, which can widen price swings.
“The market is looking for direction,” said Matthew Maley, chief market strategist at Miller Tabak, as investors turn to January data for fresh signals. 2
The Nasdaq said U.S. markets were closed on Thursday, January 1, for New Year’s Day, and that regular trading hours run from 9:30 a.m. to 4:00 p.m. Eastern time. It also lists “extended hours” trading — pre-market (4:00 a.m. to 9:30 a.m.) and after-hours (4:00 p.m. to 8:00 p.m.) — though brokers may set different cutoffs. 3
The New York Stock Exchange also lists New Year’s Day among its 2026 market holidays. 4
Bond markets follow a separate schedule set by the Securities Industry and Financial Markets Association, a trade group that publishes recommended hours for U.S. fixed-income trading. SIFMA’s calendar shows a 2:00 p.m. ET early close on Wednesday, December 31, 2025, ahead of the New Year’s Day shutdown. 5
In an explainer this week, NBC New York noted the stock market kept regular hours on New Year’s Eve while the U.S. bond market closed early, before markets shut on New Year’s Day. 6
The bond market is where Treasuries and other debt trade, often dealer-to-dealer rather than on a single central exchange. Shortened sessions can reduce the time investors have to react to late-day news.
Extended-hours stock trading can also change how prices move. Those sessions typically have fewer participants, which can mean less liquidity — the ease of buying or selling without moving the price.
Thin liquidity can translate into wider bid-ask spreads, the gap between what buyers are willing to pay and sellers are asking. That can make trades more expensive, especially in smaller stocks.
