NEW YORK — As the holiday season reaches its peak, investors and traders are preparing for the final market pause of the year. For those looking to squeeze in last-minute trades or rebalance portfolios before the 2026 calendar begins, the schedule for Christmas week 2025 is critical.
The short answer is: No, the U.S. stock market is not open on Christmas Day, Thursday, December 25, 2025. Both the New York Stock Exchange (NYSE) and the Nasdaq will remain fully closed in observance of the holiday.
The Christmas Eve Early Squeeze
While Christmas Day is a total shutdown, Christmas Eve offers a “half-day” window for those still active. On Wednesday, December 24, 2025, the NYSE and Nasdaq will operate on an abbreviated schedule:
- Equities: Markets will close early at 1:00 p.m. ET.
- Bond Markets: SIFMA (the Securities Industry and Financial Markets Association) has recommended an early close of 2:00 p.m. ET for fixed-income markets.
This early closure is a long-standing tradition on Wall Street, providing a transition period for market participants to exit positions before the statutory holiday.
Looking Ahead: New Year’s and the 2026 Kickoff
The holiday disruptions continue briefly into the following week, though with a notable twist for the turn of the year.
- New Year’s Eve (Dec 31, 2025): Surprisingly, the stock market remains open for a full day of trading on Wednesday, December 31. Unlike Christmas Eve, there is no scheduled early close for equities. However, the bond market is expected to close early again at 2:00 p.m. ET.
- New Year’s Day (Jan 1, 2026): All U.S. stock and bond markets will be closed on Thursday, January 1, 2026.
- The First Trade of 2026: Markets will officially reopen for the first full session of the new year on Friday, January 2, 2026.
Market Context: The “Santa Claus Rally”
Historically, the period between Christmas and New Year’s is known for the “Santa Claus Rally”—a phenomenon where stock prices tend to rise during the last five trading days of December and the first two of January.
Analysts attribute this trend to several factors, including:
- Tax-Loss Harvesting: Investors finishing up their year-end sales to offset capital gains.
- Institutional Absence: Many large hedge funds and institutional desks are thinly staffed, leaving retail investors to drive the narrative.
- General Optimism: The holiday spirit often translates into bullish sentiment as traders position themselves for “January Effect” gains.
At a Glance: Holiday Trading Schedule
| Date | Holiday | Status | Equities Close (ET) | Bonds Close (ET) |
| Dec 24, 2025 | Christmas Eve | Early Close | 1:00 PM | 2:00 PM |
| Dec 25, 2025 | Christmas Day | CLOSED | — | — |
| Dec 31, 2025 | New Year’s Eve | Open | 4:00 PM | 2:00 PM |
| Jan 1, 2026 | New Year’s Day | CLOSED | — | — |