Is the stock market closed on Columbus Day, or Indigenous Peoples' Day, in 2024? The answer to this question is no. The stock market will be open Monday, October 14, for the annual holiday. However, bond traders will get an extended weekend, with the bond market closed on Monday.
Unlike some holidays, however, there are no early hours for bond traders ahead of Columbus Day, with regular trading hours on Friday, October 11.
As a reminder, Columbus Day is a federal holiday that occurs on the second Monday in October and marks the voyage and landing of Italian explorer Christopher Columbus in the Americas. Indigenous Peoples' Day, celebrated since the 1990s in tandem with Columbus Day, acknowledges Native American cultures and people who inhabited the Americas prior to European exploration.
It's been a pretty choppy start to the fourth quarter. As of this writing, the Dow Jones Industrial Average is down 0.6% for the month to date, while the S&P 500 is off 0.2% and the Nasdaq Composite is 0.03% lower. And while the last three months of the year tend to be one of the most bullish for stocks, plenty could happen between now and December 31 that could spark more volatility.
For one, there's next month's presidential election, though history shows elections have minimal impact on long-term stock market returns, says Tony DeSpirito, global CIO of fundamental equities at BlackRock. There's also the Fed, which includes what central bankers are saying as well as rate cuts, he adds.
DeSpirito notes that volatility, which is healthy and normal, can be a boon for stock pickers. Those looking for the best stocks to buy might consider high-quality large-cap stocks, which tend to outperform in the 12 months following the Fed's first rate cut, he says.
Meanwhile, for those wondering what time does the market open for regular trading hours, both the Nasdaq Stock Market and the New York Stock Exchange (NYSE) run from 9:30 am to 4:00 pm Eastern time Monday through Friday.
Are banks closed on Columbus Day? The answer to that question is yes. Monday, October 14, is one of several bank holidays in 2024, and so banks will be closed.
Below, we feature a full schedule of all stock market holidays and bond market holidays for 2024.
2024 stock market holidays
2024 bond market holidays
* This is the recommended bond market holiday schedule from the Securities Industry and Financial Markets Association (SIFMA). This schedule is subject to change.
