As investors prepare for the end of the year, one of the most common questions circulating in financial circles is: are stock markets open on Christmas Eve in 2025? With the holidays approaching and trading volumes fluctuating, knowing the exact market schedule is essential for both professional traders and casual investors. The latest verified updates confirm that U.S. stock markets will be closed on Christmas Day (Thursday, December 25, 2025) and open for a full trading day on Christmas Eve (Wednesday, December 24, 2025).
Here’s a comprehensive look at how the major U.S. exchanges — including the New York Stock Exchange (NYSE), Nasdaq, and bond markets — are operating this holiday season, along with what investors can expect during one of the lightest trading weeks of the year.
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U.S. Stock Market Schedule for Christmas Week 2025
The U.S. stock market follows a precise calendar of federal and market holidays each year. For 2025, both the New York Stock Exchange and Nasdaq will observe standard operating hours on Christmas Eve, meaning they will remain open for normal trading from 9:30 a.m. to 4:00 p.m. Eastern Time.
Here’s the full schedule surrounding Christmas week:
| Date | Day | Market Status | Trading Hours (ET) |
|---|---|---|---|
| December 23, 2025 | Tuesday | Open | 9:30 a.m. – 4:00 p.m. |
| December 24, 2025 | Wednesday (Christmas Eve) | Open (Full Day) | 9:30 a.m. – 4:00 p.m. |
| December 25, 2025 | Thursday (Christmas Day) | Closed | — |
| December 26, 2025 | Friday | Open | 9:30 a.m. – 4:00 p.m. |
Unlike some years when Christmas Eve falls on a weekday that prompts an early close, 2025’s calendar means there will be no shortened session on December 24. Both exchanges will resume normal operations on Friday, December 26, following the federal holiday.
Bond Market Schedule: Slightly Different Hours
While the stock exchanges will be open all day on Christmas Eve, the U.S. bond market, managed by the Securities Industry and Financial Markets Association (SIFMA), follows a slightly different schedule.
SIFMA has recommended that bond markets close early at 2:00 p.m. Eastern Time on Wednesday, December 24, to give traders additional time to prepare for the holiday break. All fixed-income markets — including U.S. Treasuries and municipal bonds — will remain closed on Christmas Day, reopening on Friday, December 26.
This means:
- December 24: Early close at 2:00 p.m. ET
- December 25: Closed
- December 26: Normal hours resume
Bond investors and institutional traders often use these early closures to finalize year-end adjustments, rebalance portfolios, and lock in final positions before the calendar year ends.
Market Activity and Volume Trends Around Christmas
Trading activity typically slows considerably during the final week of December. Many institutional investors and financial firms operate with reduced staff, and volume tends to dip as both domestic and international traders take time off for the holidays.
Key points to expect during Christmas week:
- Lower volatility: Fewer trades mean smaller price swings and less intraday movement.
- Light trading volume: Institutional activity declines sharply as year-end tax planning concludes.
- Higher spreads: With fewer participants, bid-ask spreads may widen slightly.
- End-of-year adjustments: Some fund managers execute final portfolio rebalancing moves.
For individual investors, this lull often provides an opportunity to review long-term strategies, assess tax-loss harvesting opportunities, and prepare for the upcoming trading year.
How the 2025 Holiday Calendar Affects Trading
Because Christmas Day falls on a Thursday this year, many traders expect a quiet week leading up to the holiday and a subdued session on the following Friday. Historically, when Christmas occurs midweek, markets experience two noticeable slowdowns — one just before the holiday and one immediately after.
Analysts anticipate:
- Minimal earnings releases during Christmas week.
- Limited economic data, as federal agencies also observe the holiday.
- A quick rebound in activity during the final trading days of December (often called the “Santa Claus Rally”).
The Santa Claus Rally is a well-known market phenomenon where stocks often rise during the final week of December and into early January, fueled by holiday optimism and lower trading volume. While not guaranteed, it remains a widely watched seasonal trend.
Other U.S. Market Closures for Reference
The NYSE and Nasdaq observe nine official holidays each year. Below is the complete list of U.S. market holidays for 2025, including Christmas:
| Holiday | Date (2025) | Market Status |
|---|---|---|
| New Year’s Day | Wednesday, January 1 | Closed |
| Martin Luther King Jr. Day | Monday, January 20 | Closed |
| Presidents Day | Monday, February 17 | Closed |
| Good Friday | Friday, April 18 | Closed |
| Memorial Day | Monday, May 26 | Closed |
| Juneteenth National Independence Day | Thursday, June 19 | Closed |
| Independence Day | Friday, July 4 | Closed |
| Labor Day | Monday, September 1 | Closed |
| Thanksgiving Day | Thursday, November 27 | Closed |
| Christmas Day | Thursday, December 25 | Closed |
In 2025, no early closure will occur on Christmas Eve, but traders should note that early closes often take place on Good Friday or the day after Thanksgiving (Black Friday) depending on the calendar year.
International Stock Markets on Christmas Eve
While the focus remains on U.S. markets, investors with global portfolios should also be aware of how international exchanges operate during the holiday. Many foreign markets observe longer closures during the Christmas period.
Here’s how a few major international exchanges align their schedules with the U.S.:
| Exchange | Country | Christmas Eve (Dec. 24, 2025) | Christmas Day (Dec. 25, 2025) |
|---|---|---|---|
| London Stock Exchange (LSE) | United Kingdom | Closed (Holiday) | Closed |
| Toronto Stock Exchange (TSX) | Canada | Open Half Day | Closed |
| Hong Kong Stock Exchange (HKEX) | China (SAR) | Open | Closed |
| Tokyo Stock Exchange (TSE) | Japan | Open | Open (No Holiday) |
| Euronext | Multiple (EU) | Closed | Closed |
This means U.S. investors trading international ETFs or ADRs should anticipate lower liquidity on December 24 and 25, as many foreign markets will already be observing their Christmas shutdowns.
Impact on Futures and Commodity Markets
While stock exchanges remain open for a full session on Christmas Eve, futures and commodities markets (including those operated by the Chicago Mercantile Exchange (CME Group)) may follow adjusted schedules.
For December 24, 2025:
- Equity index futures (such as S&P 500 futures) will close early at 1:00 p.m. ET.
- Energy and metals futures (crude oil, gold, etc.) will also close early at 1:00 p.m. ET.
- Agricultural commodities (corn, soybeans, wheat) will close at 1:05 p.m. ET.
- All CME markets will remain closed on December 25 and resume normal hours on December 26.
These early closures are standard practice for the CME during major U.S. holidays to align with broader financial market activity.
What Investors Should Keep in Mind Before the Holiday
As markets wind down for the holiday season, investors can take several steps to ensure smooth year-end portfolio management:
- Plan ahead for holiday liquidity: Lower trading volumes can impact execution prices, so avoid placing large market orders during thinly traded sessions.
- Review tax positions: The final days of December offer the last opportunity for tax-loss harvesting before the new year.
- Set stop-loss orders carefully: Wider spreads can trigger unintended trades.
- Prepare for limited customer service: Brokerages and financial institutions may have reduced staffing or holiday hours.
- Stay informed on key data releases: Keep an eye on any late-year reports from the Federal Reserve or Bureau of Economic Analysis that could influence markets.
Outlook for the Final Week of December
Market analysts expect a calm but optimistic close to 2025. Inflation indicators in the U.S. have stabilized, interest rates have remained steady, and investor sentiment has improved heading into 2026. Combined with historically positive year-end performance, these factors could contribute to mild upward movement in equities during the final trading days.
However, investors should remain mindful of potential volatility from thin trading activity. Even small news developments can produce outsized price reactions when volume is low.
Still, most analysts agree that the holiday period offers a valuable opportunity for investors to focus on long-term financial planning, rather than short-term trading.
The final takeaway: U.S. stock markets will remain open on Christmas Eve 2025 for a full day of trading and closed on Christmas Day. Whether you’re a professional trader or a long-term investor, knowing this schedule ensures you can plan your portfolio moves without interruption — and enjoy a stress-free holiday season.
