Often referred to as Black Friday in the US, the Friday after Thanksgiving marks the start of the Christmas and holiday shopping season. Retailers offer special deals to lure consumers during the holiday. It is a holiday for financial markets in the United States and will be closed Thursday for Thanksgiving. The markets will close early Friday due to Black Friday. Black Friday, falling on Nov. 26, will also mark the official start of the holiday shopping season. Major retailers have already announced special offers for those looking for holiday gifts. The Intercontinental Exchange Inc. owned New York Stock Exchange and the Nasdaq are scheduled to close at 1 p.m. Eastern Friday. The Securities Industry and Financial Markets Association has set a 2 p.m. Eastern close for Treasury markets.
No early closure
But there wouldn’t be an early closure for the markets Wednesday, the day before Thanksgiving in America. The NYSE, American Stock Exchange and Nasdaq went for a 2 p.m. Eastern close for the Friday after Thanksgiving in 1992. It is two earlier than the normal closing bell at 4 p.m. However, in the following year, exchanges closed the markets three hours earlier, at 1 p.m. Some observers pointed out that the trading activity on Wednesday, before Thanksgiving is usually very dull. The volumes will be very low. The U.S. Department of Transportation data suggests that Thanksgiving is generally the busiest travel day of the year. Metals such as gold will settle at 12:30 p.m. Eastern, and U.S. crude oil will settle at 1:30 p.m Black Friday. Analysts are also looking at the stock market performance during the week. According to studies, the S&P 500 index have done well during the holiday season. Some experts are of the view that the Nasdaq Composite could experience some volatility during the period.