New Year’s Day 2024 has arrived, and while it’s a time for celebration, investors may find themselves reflecting on the events of 2023. It was a year filled with high inflation, geopolitical conflicts, and a frenzy around artificial intelligence investing – truly one for the history books.
However, despite the challenges, the three major U.S. indexes experienced significant gains that are worth celebrating. The Dow Jones Industrial Average saw a 14% increase in 2023, while the S&P 500 climbed by 24%, and the Nasdaq Composite soared by an impressive 43%.
Holiday Trading Hours
For investors wondering about trading hours during the holiday season, here’s what you need to know:
Is the Stock Market Open or Closed on New Year’s Day?
Both the New York Stock Exchange and the Nasdaq Stock Market will be closed on Monday, January 1, as they observe New Year’s Day – a federal holiday. The U.S. bond market and over-the-counter markets will also be shut for the day.
You can expect these markets to reopen promptly at 9:30 a.m. Eastern on Tuesday, January 2.
Banks and USPS Availability
Federal Reserve banks will also be closed on January 1, along with United States Postal Service (USPS) locations.
International Markets on New Year’s Day
If you’re keeping an eye on international markets, be aware that foreign exchanges in London, Hong Kong, Shanghai, Toronto, and Tokyo will also be closed on January 1 to observe New Year’s Day.
How Does the Stock Market Perform Around New Year’s Day?
Looking at historical data from as far back as 1950, there is an interesting trend. On average, the S&P 500 tends to rise by approximately 1.1% during the first month of the year, according to Dow Jones Market Data. This suggests that January may bring investors modest gains.
Other Important Information
In addition to market hours and trends, investors should keep an eye out for the latest economic data and financial reports this week. You can expect updates from companies like Cal-Maine Foods and Walgreens Boots Alliance, among others.
Remember, while the start of the new year brings fresh opportunities, it’s important to stay informed and make informed investment decisions.