Wall Street is open for business on New Year’s Eve. Equities are running full hours today, with no early close, as traders push through the final session of the year. If you need to move risk before the holiday, you have until the 4:00 p.m. ET closing bell. Markets are closed tomorrow for New Year’s Day.
Today’s hours at a glance
Here is the clean read on holiday trading today. Keep these times in Eastern Time and plan your orders accordingly.
- NYSE and Nasdaq, 9:30 a.m. to 4:00 p.m., regular session
- U.S. stock market closed tomorrow for New Year’s Day
- U.S. bond markets, early close around 2:00 p.m., confirm with your dealer
- CME futures and options, modified hours by contract, check your platform
Premarket and after-hours sessions for equities still run, but they vary by broker. Liquidity is thin in those windows, so execution can be tricky. Options on equities and ETFs trade on the stock schedule, closing at 4:00 p.m. ET.
Bond desks plan to shut early around 2:00 p.m. ET. Price discovery in rates can be uneven after that point.
What this means for stocks
There is no early close for stocks today, which keeps the full afternoon auction in play. Expect quieter tapes by midday as desks wind down, then a burst of flow into the close. Funds lock in performance today, so closing prints matter for month end and year end.
Liquidity often fades after lunch, spreads can widen, and single prints can jerk prices. That can cut both ways. If you need to finish tax loss selling or rebalance, size your orders and use limits. Today is also the last mark for many performance reports. Closing imbalance data, posted at 3:50 p.m., can pull large caps and ETFs around the final minutes.
Use limit orders, not markets, especially after 2:00 p.m. Thin books can punish imprecise execution.
From a macro lens, the calendar is light, which puts the focus on positioning. Growth leaders often see window dressing, while laggards can catch a late bid if funds square shorts. Watch the closing auction in the mega caps, it can drive index levels and ETF hedges.
Bonds early, rates drive the tone
The early close in Treasuries and credit sets today’s tone for equities. If yields drift, rate sensitive pockets, banks, utilities, and homebuilders, will follow. New issuance is quiet, but the curve still matters for financial conditions. If the 2 year note makes a move before the bond close, equities could feel it in the last hour.
Liquidity in corporate bonds typically thins well before 2:00 p.m. ET. ETFs that own those bonds can trade past that time, so premiums and discounts may swing. If you run credit ETF orders late, compare to the last reliable bond prints.
T plus 1 settlement is in effect. Trades you execute today are scheduled to settle on the next business day, which is Friday, since markets are closed on Thursday.
Futures and global markets
CME equity index futures and many commodities run on modified holiday schedules. Most products pause this evening and will observe holiday hours tomorrow, then reopen for the next session tomorrow night. Details are contract specific. Equity index, energy, metals, FX, and rates do not all share the same cutoffs. If you hedge with futures, verify your board times before you lean on the book.
Overseas, holiday calendars are mixed. Some major exchanges run half days today, some are closed tomorrow, and some observe different holidays altogether. If you trade ADRs or global ETFs in New York, be mindful. Price discovery can lag when the home market is shut.
Strategy for the last bell of the year
This is a clean execution day for U.S. stocks, but not a normal one. Thin conditions reward patience and discipline. Avoid chasing pre close moves that do not line up with your plan. If you need to roll hedges, do it before liquidity tapers. If you need to raise cash, scale orders and watch the imbalance feed.
Two tactical notes. First, ETF creations and redemptions can pull on underlying stocks late. Expect odd lots, then a quick snap into the close. Second, options decay does not take holidays, but trading does. If you are holding short dated options into the market closure, time decay continues. Price accordingly.
Finally, link your calendar to these hours. Equities close at 4:00 p.m. ET today, bonds wrap around 2:00 p.m. ET, and futures run modified hours. Everything is dark tomorrow, then normal trading resumes on Friday. Plan your risk, protect your fills, and finish the year on your terms.
