Will Santa Claus visit Wall Street after investors take their Christmas break?
The New York Stock Exchange and the Nasdaq will close at the usual time at 4 p.m. Eastern time on Friday, Dec. 22. Meanwhile the Securities Industry and Financial Markets Association recommends a 2 p.m. Eastern close for bond markets on Friday.
With the exception of stock-index products, futures and options trading on CME Group exchanges will close early on Friday Dec. 22 and will be closed on Dec. 25.
U.K. and most European markets will be closed Dec. 25 and 26.
Most global financial markets will also be closed on Monday Jan. 1, 2018 in celebration of the New Year.
A “Santa Claus rally” refers to the rise in stock prices that often comes in the final week of December and first two trading days of January. But even if Santa is a no-show, global equities have performed exceptionally well over the past 12 months.
The S&P 500 SPX, -0.08% is up nearly 20% in 2017, while the Dow industrials DJIA, -0.11% gained more than 25%.
Trading volumes are expected to be thin next week, with no major economic releases are scheduled until the beginning of the new year. The passage of the tax-cut bill this week means investors do not expect any major political news either.