Do Stocks Trade on Thanksgiving? Quick Guide

Do stocks trade on Thanksgiving? Short answer: U.S. stock exchanges are closed on Thanksgiving Day and typically run shortened hours on the following Friday (Black Friday). This guide explains what...

2026-01-18 11:30:00

By Lily Wong

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Do Stocks Trade on Thanksgiving? Quick Guide

Do stocks trade on Thanksgiving? If you're planning trades around late November, this is the core question. Short answer: U.S. stock exchanges are closed on Thanksgiving Day, and the day after (Black Friday) commonly operates on early-close schedules. This guide explains the details for equities, options, bonds, futures, pre- and after-hours sessions, cryptocurrency contrasts, cross-market effects, settlement implications, and practical steps to manage trading and operational risks. Read on to learn what to check and how to plan.

Overview

Thanksgiving refers to the U.S. federal holiday observed on the fourth Thursday in November each year. Do stocks trade on Thanksgiving? No — for primary U.S. equity exchanges the holiday is a full market holiday. As of 2026-01-22, according to official exchange holiday calendars, the New York Stock Exchange and Nasdaq list Thanksgiving Day as a full holiday with no regular trading session, while the following Friday typically opens but closes early.

Market practice around Thanksgiving follows a predictable pattern: exchanges close for a full trading day on Thanksgiving and run shortened sessions on the day after Thanksgiving. Specific early-close times and eligible instruments can vary by exchange and by year, so traders should verify the current year's published exchange calendars before placing orders.

U.S. Equity Markets

This section covers the primary U.S. equity markets and how they observe Thanksgiving.

Regular trading hours (context)

Normal U.S. regular equity trading hours run from 9:30 a.m. to 4:00 p.m. Eastern Time (ET) on business days. Investors compare holiday schedules to these standard hours when planning orders and liquidity needs.

Do stocks trade on Thanksgiving? Under regular hours, they would trade from 9:30 a.m. to 4:00 p.m. ET, but Thanksgiving interrupts that schedule — see below.

Thanksgiving Day (full closure)

On Thanksgiving Day the New York Stock Exchange (NYSE) and Nasdaq observe a full market holiday. Do stocks trade on Thanksgiving? No — there is no regular-session trading for equities on that day. That means:

No open auction, no continuous regular-session trading, and no official close for normal-listed equities.
Options linked to U.S. equities do not run regular intraday sessions tied to the normal equity schedule on Thanksgiving.
Typical liquidity providers and institutional desks are largely inactive for U.S.-listed equity trading on Thanksgiving.

As of 2026-01-22, exchange calendars published by the NYSE and Nasdaq list Thanksgiving as a holiday. Those official calendars are the authoritative source for the specified dates each year.

Day after Thanksgiving (Black Friday) — early close

The day after Thanksgiving — commonly called Black Friday — traditionally features early-closing sessions for many U.S. markets. Do stocks trade on Thanksgiving? The day after, stocks do trade but usually on a shortened schedule. The typical early close for equities is 1:00 p.m. ET, though exact times can change and some instruments may follow alternative early-close timings.

Key points about the early close:

Equities: Regular-session trading usually opens at 9:30 a.m. ET and closes early, commonly at 1:00 p.m. ET on the Friday after Thanksgiving. This early close shortens the normal six-and-a-half-hour trading day to about three-and-a-half hours.
Options: Eligible options may have slightly different early-close times. Some options exchanges historically set early closes at 1:15 p.m. ET or other times for certain option series; consult the exchange-specific options trading schedule for the current year.
Order handling: Many brokerages set order cutoffs earlier than the market close. Market-on-close or certain time-in-force instructions may not execute as usual on early-close days; check your broker's holiday cutoffs.

Because schedules can vary year to year, always confirm with the relevant exchange calendar and your brokerage's holiday notices well before placing trades.

Other U.S. Markets and Instruments

Thanksgiving affects more than just listed equities. This section details adjacent markets and common operational differences.

Bond markets

U.S. bond markets generally observe Thanksgiving as a holiday. Do stocks trade on Thanksgiving? While equities are closed, many fixed-income trading venues also suspend normal trading on Thanksgiving.

Typical patterns include:

Full closure on Thanksgiving for many government and corporate bond trading desks and platforms.
An early close the day after Thanksgiving is common for certain cash bond trading sessions; for some dealers and venues, sessions end around 2:00 p.m. ET or earlier.
Settlement windows and secondary-market liquidity are tighter around the holiday.

Because fixed-income trading is fragmented across interdealer platforms and dealer networks, institutional participants should confirm precise hours with their trading counterparties and platforms.

Options and ETFs

Options trading follows exchange schedules and is tied closely to the equity holiday calendar.

Options: Most U.S. options exchanges observe Thanksgiving as a holiday with no regular sessions. On the day after Thanksgiving, options sessions are often shortened; early-close times for options can differ slightly from equities (for example, some early closes have been 1:15 p.m. ET). Traders should consult the specific options exchange schedules for instrument-level details.
ETFs: Exchange-traded funds (ETFs) trade on the same public exchanges as equities. Do stocks trade on Thanksgiving? ETFs do not trade on Thanksgiving because their primary exchanges are closed. On the Friday following Thanksgiving, ETFs are tradable during the shortened equity session, but liquidity can be materially lower and spreads often widen due to reduced market participation.

Lower liquidity on early-close days can lead to larger bid-ask spreads, increased slippage, and less reliable benchmark pricing for collateral or rebalancing.

Futures and commodities (CME, ICE, etc.)

Futures and commodity exchanges operate on modified schedules around Thanksgiving. These exchanges each publish detailed calendars and contract-specific hours. General observations:

Many futures contracts reduce trading hours or run limited sessions on Thanksgiving Day.
Some electronic futures markets reopen for overnight sessions but suspend daytime liquidity during the holiday.
On the day after Thanksgiving, exchanges frequently apply early closes for certain futures contracts. The exact hour can vary by contract and by exchange.

Because futures and commodity contracts have different settlement mechanics and often trade across global time zones, traders must consult the exchange (for example, the relevant futures exchange's holiday advisory) for contract-level hours. Do stocks trade on Thanksgiving? Futures are separate instruments and their holiday hours are governed by each futures exchange's published calendar.

Pre-market and After-hours Trading

Pre-market and after-hours sessions are provided by exchanges and brokerages and are subject to holiday adjustments.

Extended hours on Thanksgiving: Most brokerages limit or suspend extended-hours trading on Thanksgiving because the core exchange is closed and market-maker activity is low. Do stocks trade on Thanksgiving in pre-market sessions? Generally no — the primary exchanges are closed and extended sessions are often reduced or unavailable.
Day after Thanksgiving: Extended sessions on Black Friday may be available but with reduced hours and liquidity. Some brokerages shorten pre-market or after-hours access or restrict certain order types.

Traders should verify extended-hours availability with their brokerage and be prepared for greater price volatility and wider spreads when using off-hours liquidity on holiday-adjacent days.

Cryptocurrency Markets — contrast

Cryptocurrency markets operate 24/7/365 and are not tied to U.S. federal holidays. Do stocks trade on Thanksgiving? While stocks are closed on Thanksgiving, cryptocurrencies continue to trade through the holiday.

Important contrasts:

Crypto availability: Trading of major digital assets continues through Thanksgiving. Spot and derivatives markets on regulated and non-regulated venues remain open.
Liquidity effects: Although crypto markets do not close, liquidity and spreads can still shift on U.S. holidays as institutional and retail participation changes. Expect potential thinning of liquidity and wider spreads for certain tokens during U.S. market holidays.
Bitget recommendation: For users looking to trade digital assets during Thanksgiving, Bitget operates continuously and Bitget Wallet provides noncustodial access to on-chain assets. Consider the operational differences between 24/7 crypto markets and holiday-driven equity schedules.

International Markets and Cross‑Market Effects

Do stocks trade on Thanksgiving? The U.S. exchanges close, but many major international exchanges in Europe and Asia remain open on Thanksgiving. Cross-market effects include:

Reduced U.S. liquidity can affect trading in U.S.-listed ADRs and cross-listed instruments on foreign exchanges.
Market-makers that provide two-way quotes across time zones may reduce activity when the U.S. is on holiday, leading to wider spreads for U.S.-centric securities traded abroad.
Global portfolio managers should plan for thinner U.S. liquidity when executing cross-market hedges or rebalancing around Thanksgiving.

Because each country and exchange follows its own holiday calendar, monitor the calendars of the relevant foreign exchanges (for example, London, Tokyo, Hong Kong) to understand overlapping trading windows and possible arbitrage or hedging impacts.

Clearing, Settlement, and Operational Implications

Holiday closures affect post-trade processing and settlement timelines. Do stocks trade on Thanksgiving? Even when specific trading days are closed, obligations and settlement cycles depend on business-day calendars.

Key settlement and operational points:

Settlement cycles: U.S. equities typically follow a T+2 settlement convention (trade date plus two business days). If markets are closed for Thanksgiving, the settlement date shifts accordingly because U.S. business days exclude federal holidays. For example, a trade executed the Wednesday before Thanksgiving has its settlement calendar adjusted to skip the holiday.
Bank and payment processing: ACH and wire transfer processing by banks typically pause for federal holidays, which can delay funding, margin transfers, or settlement of cash movements tied to trades.
Mutual fund NAVs and corporate actions: Mutual funds may calculate net asset values (NAVs) and process redemptions according to their own rules, but holiday-related bank closures can delay cash flows. Corporate action deadlines (dividend record dates, corporate filings) may also be affected by holidays.
Custodian and broker operations: Broker-dealers and custodians may publish alternate cutoffs for trade instructions, corporate action elections, and funding. Check your provider's holiday notices for deadlines and impacts.

Operational planning should treat the holiday as a business-day interruption. When in doubt, confirm settlement dates and cutoffs with your broker or custodian.

Historical Exceptions and Emergency Closures

Do stocks trade on Thanksgiving? Thanksgiving closures are scheduled and predictable. By contrast, there have been rare historical full- or multi-day exchange closures due to extraordinary events (for example, market-wide halts following national emergencies or system outages). Those emergency closures are distinct from the routine Thanksgiving holiday and are announced by exchanges if and when they occur.

Examples of exceptional closures in market history are rare and driven by extraordinary conditions. For routine planning, rely on the exchange's published holiday calendar rather than exceptional past events.

Practical Guidance for Traders and Investors

Do stocks trade on Thanksgiving? With the answer established, here are concise, actionable tips to manage trading and operational risk around Thanksgiving:

Verify the calendar early: Check the official exchange holiday calendars (NYSE, Nasdaq, futures exchanges) and your broker's holiday notices well before Thanksgiving.
Confirm order cutoffs: Many brokerages impose earlier cutoffs for order entry, cancellations, and special order types on early-close days. Confirm these times to avoid unexecuted or canceled instructions.
Avoid assuming normal liquidity: Expect wider spreads and less depth on the day after Thanksgiving. Consider using limit orders rather than market orders to control execution price.
Plan settlement and cash flows: Account for the holiday when calculating settlement dates under T+2 and plan bank transfers to avoid margin shortfalls.
Rebalance earlier: If you need to rebalance around Thanksgiving, do so prior to the holiday or after sufficient time post-holiday to ensure expected liquidity and settlement timing.
Use alternative instruments carefully: If you rely on futures or international markets to hedge U.S. exposure, confirm those markets' holiday schedules and contract-specific hours.
Crypto continuity: If you plan to trade digital assets over Thanksgiving, remember cryptocurrency markets operate 24/7. Use Bitget for continuous trading and Bitget Wallet for on-chain asset control, but be mindful of potential liquidity changes during U.S. holidays.

These practical steps are intended to reduce surprises and ensure your trades and operations proceed as planned around Thanksgiving.

References

As of 2026-01-22, according to the official NYSE and Nasdaq holiday calendars, Thanksgiving Day is a full exchange holiday and the day after Thanksgiving typically observes an early close for equities. Exchange calendars and exchange advisories are the authoritative sources for year-specific holiday dates and early-close timings.

Sources used for this guide include exchange holiday schedules and reputable market-information coverage. Refer to exchange-published holidays and trading hours for definitive, up-to-date details each year.

NYSE Holidays & Trading Hours (exchange calendar) — authoritative exchange holiday schedule. As of 2026-01-22, Thanksgiving Day is listed as a full holiday.
Nasdaq trading calendar / NasdaqTrader calendar — lists Thanksgiving as a full holiday and provides early-close details for the following day. As of 2026-01-22, Nasdaq's calendar confirms the customary early close on the Friday after Thanksgiving.
Futures exchanges (CME, ICE) — publish contract-specific early close advisories; consult the exchange notices for precise hours. As of 2026-01-22, CME and ICE maintain published holiday hours that may differ by contract.
Investopedia — "Is the Stock Market Open for Thanksgiving and Black Friday?" (educational coverage summarizing market practice). As of 2026-01-22, summary guidance aligns with exchange calendars: Thanksgiving closed, Black Friday early close.
Major market coverage and business press provide yearly reminders of holiday trading hours; check reputable news outlets for practical reminders each November. As of 2026-01-22, market coverage reiterates the planned exchange holiday schedules.

Note: The exchange calendars and advisories are updated annually. Always verify the current year’s dates and any special-notice deviations.

Practical checklist (quick reference)

Do stocks trade on Thanksgiving? No — NYSE and Nasdaq are closed on Thanksgiving Day.
Will markets be open the day after Thanksgiving? Yes, but typically with an early close (commonly 1:00 p.m. ET for equities).
Options and ETFs? Options observe holiday closures and early-close schedules; ETFs follow the equity exchange schedule and can suffer reduced liquidity.
Futures and commodities? Consult the applicable futures exchange for contract-level hours.
Crypto? Crypto markets operate 24/7; Bitget offers continuous trading access and Bitget Wallet provides on-chain custody options.
Settlement impact? Expect T+2 settlement dates to shift around the holiday; bank processing is affected by federal holidays.