With Christmas just days away, many investors are asking the same question every holiday season: are stock markets open on Christmas Eve in 2025? The answer is important for traders managing end-of-year portfolios and investors looking to finalize positions before the year closes.
The latest confirmed trading schedule shows that U.S. stock markets — including the New York Stock Exchange (NYSE) and Nasdaq — will be open on Wednesday, December 24, 2025, for a full regular trading day, and closed on Thursday, December 25, 2025, in observance of Christmas Day.
This means that investors can expect standard market hours on Christmas Eve, though trading volume is likely to be light as Wall Street winds down for the holiday break.
Official U.S. Stock Market Schedule for Christmas Week 2025
Both the NYSE and Nasdaq follow an established list of market holidays each year, with specific guidance for shortened or full trading days depending on the calendar. In 2025, Christmas falls on a Thursday, leaving the day before — December 24 — as a regular session with normal hours.
Here’s the confirmed U.S. market schedule surrounding Christmas:
| 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 certain years when the holiday lands on a weekend or adjacent weekday, 2025 brings a straightforward schedule. Markets will operate normally on Christmas Eve, close for Christmas Day, and reopen the next day for standard trading.
Bond Market Schedule and Early Closure
While stock exchanges maintain a full-day schedule, the U.S. bond market — which includes Treasuries and municipal bonds — will operate on a shortened day.
The Securities Industry and Financial Markets Association (SIFMA) recommends that bond markets close early at 2:00 p.m. Eastern Time on December 24. Fixed-income trading will then pause for Christmas Day and resume on December 26.
Bond market holiday summary for 2025:
- Wednesday, December 24: Early close at 2:00 p.m. ET
- Thursday, December 25: Closed
- Friday, December 26: Open normal hours
The early closure allows traders, institutional investors, and financial institutions to complete end-of-year adjustments before the holiday while maintaining orderly operations.
Why Market Hours Matter During the Holidays
Understanding trading schedules during the holiday period is more than just a formality for investors — it affects liquidity, order execution, and short-term volatility. Historically, the days leading up to Christmas are among the quietest trading periods of the year.
Here’s what typically happens in markets during Christmas week:
- Lower trading volume: Many institutional traders and fund managers take time off, leading to thinner activity.
- Reduced volatility: With fewer participants, price swings tend to be milder.
- Wider bid-ask spreads: Less liquidity can make trade execution slightly less efficient.
- Calmer sentiment: Investor focus shifts toward year-end reviews rather than short-term market movements.
For long-term investors, the quieter holiday sessions can be an opportunity to review portfolios and plan strategies for the coming year rather than chase short-term gains.
Why There Is No Early Close in 2025
In some years, the NYSE and Nasdaq close early on Christmas Eve, typically at 1:00 p.m. Eastern Time. However, early closures only occur when Christmas falls on a weekday that compresses the trading schedule — for example, when the holiday lands on a Friday or Monday.
Because Christmas Day in 2025 falls on a Thursday, both exchanges opted for full trading hours on December 24. This structure ensures continuity in trading operations and avoids unnecessary disruption for investors wrapping up quarterly or year-end positions.
The next early closure for stock markets is expected to occur on Wednesday, December 31, 2025 (New Year’s Eve), when exchanges typically shorten their schedule in preparation for the new year.
Trading Volume Trends During Christmas Week
Historically, the week leading up to and following Christmas has seen some of the lowest trading volumes of the year. This is due to a combination of factors: holidays, fewer economic data releases, and year-end portfolio rebalancing by institutional investors.
Market analysts expect similar patterns in 2025:
- Volume slowdown: Average daily volume could drop by 25–40% compared to normal weeks.
- Institutional absence: Large hedge funds and mutual fund managers often complete transactions earlier in December.
- Retail activity: Individual investors may continue trading, but with lower liquidity.
- Calm sentiment: Markets tend to move sideways unless major economic news breaks unexpectedly.
The lack of significant movement makes this period less attractive for short-term traders but beneficial for investors looking to reassess long-term holdings.
Potential Market Drivers Before the Holiday
While trading is expected to be subdued, a few factors could still influence stock prices before the holiday break:
- Year-end corporate announcements: Companies sometimes release updates or guidance revisions before the holidays to close the fiscal quarter.
- Federal Reserve developments: Any late-December comments or data on inflation or interest rates could move markets.
- Economic data: Final GDP revisions and holiday retail sales data often arrive just before Christmas.
- Investor sentiment: Optimism around consumer spending and earnings can support prices heading into the final trading days of the year.
Even with reduced trading activity, these catalysts can cause small fluctuations in thin markets, particularly in high-volume sectors like tech and consumer discretionary.
Historical Market Performance Around Christmas
Historically, December has been one of the strongest months for the stock market, often buoyed by what traders call the “Santa Claus Rally.” This refers to a pattern of stock market gains typically observed in the final week of December through the first two trading days of January.
The phenomenon is often attributed to several factors:
- Light trading volume, which allows positive sentiment to push markets higher.
- Optimism around corporate and economic growth forecasts.
- Institutional portfolio balancing before year-end reports.
While not guaranteed, data from previous decades shows that the S&P 500 has recorded gains during the Santa Claus Rally period more than 75% of the time. Investors often watch this trend closely as an indicator of short-term market momentum.
U.S. Market Holidays Remaining in 2025
Beyond Christmas, investors should keep track of other official exchange holidays to plan trades effectively. The NYSE and Nasdaq observe the following holidays throughout the year:
| 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 |
These closures are consistent across both the NYSE and Nasdaq, though bond and futures markets may have their own variations, often with early closing times.
International Market Schedules
For investors holding international stocks or global ETFs, it’s also worth noting that foreign markets often close earlier — or for longer — during the Christmas season.
| Exchange | Country | Christmas Eve (Dec. 24) | Christmas Day (Dec. 25) |
|---|---|---|---|
| London Stock Exchange | U.K. | Closed | Closed |
| Toronto Stock Exchange | Canada | Closes early | Closed |
| Euronext | France, Germany, Netherlands | Closed | Closed |
| Tokyo Stock Exchange | Japan | Open | Open |
| Hong Kong Stock Exchange | Hong Kong | Open | Closed |
Investors trading international securities should prepare for reduced liquidity during this period and anticipate potential settlement delays for cross-border trades.
Futures and Commodities Trading
The Chicago Mercantile Exchange (CME) and Chicago Board of Trade (CBOT) operate on modified schedules during the holidays. For Christmas Eve 2025:
- Equity index futures (S&P 500, Nasdaq 100, Dow Jones) close early at 1:00 p.m. ET.
- Energy and metals futures (crude oil, gold, silver) close early at 1:00 p.m. ET.
- Agricultural markets (corn, soybeans, wheat) close early at 1:05 p.m. ET.
All CME markets will remain closed on Christmas Day and resume normal trading hours on December 26.
These adjustments reflect global practice, aligning commodity and derivatives trading with reduced market participation during holidays.
Investor Strategy for the Holiday Season
For investors, the holiday period is a valuable time for reflection and preparation. As 2025 draws to a close, key actions include:
- Review portfolio performance: Analyze how your holdings performed relative to benchmarks.
- Rebalance assets: Adjust allocation if markets moved significantly during the year.
- Assess tax strategy: Finalize year-end tax-loss harvesting where applicable.
- Set 2026 goals: Identify new opportunities or sectors to focus on in the coming year.
- Stay cautious with low liquidity: Avoid placing large market orders during low-volume sessions.
Even though trading conditions are calm, careful planning during this time can help investors start 2026 from a stronger position.
Outlook for the Final Week of 2025
Market expectations heading into the last week of December are positive. Inflation in the U.S. has stabilized, interest rates remain steady, and corporate earnings have exceeded expectations in several key sectors. These factors suggest a favorable environment for equities heading into the new year.
While major economic data releases are limited in the final week, optimism around consumer spending and easing recession concerns may continue to support prices. The calm trading conditions typically associated with Christmas week also give investors time to plan for 2026 without the usual market noise.
In summary, U.S. stock markets will be open on Christmas Eve 2025 for a full day of trading and closed on Christmas Day. Whether you’re managing year-end trades or simply observing market patterns, understanding this schedule ensures smooth planning as the holiday season unfolds.