Why is stock market closed on Good Friday?
But the real reason the market is closed on Good Friday has more to do with the fact that there have been many Irish Catholic chairmen and Irish Catholic traders in the exchange's history that were expected to be in church on Good Friday.
United States stock markets will be closed on Friday, March 29 in observance of Good Friday, the day in which those who follow the Christian faith commemorate the crucifixion and death of Jesus Christ. The Nasdaq and New York Stock Exchange will be closed Friday and reopen Monday, April 1.
Is the stock market open on Good Friday? The New York Stock Exchange (NYSE) is closed on Good Friday 2024.
Some of the reasons seem to be panic trading behaviour, short-selling, companies' tendency to announce bad news on Fridays after market close, etc. However, the fact to be remembered is that the stock prices do not necessarily move based on days.
Stock market holiday: On account of Good Friday 2024, trading at BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) will remain closed on 29th March 2024 i.e. today. So, the Indian stock market today will remain closed for the entire session and now it will resume trading on Monday at its usual timings.
Timing the stock market is difficult, but understanding when to trade stocks can help your portfolio. The best time of day to buy stocks is usually in the morning, shortly after the market opens. Mondays and Fridays tend to be good days to trade stocks, while the middle of the week is less volatile.
Good Friday is not a federal holiday, according to the U.S. Office of Personnel Management. Most banks should be open on Good Friday, according to The Federal Reserve.
Fortunately, analysts see positive earnings and revenue growth for all eleven market sectors this year. The healthcare sector is expected to generate a market-leading 17.8% earnings growth in 2024, while the information technology sector is expected to lead the way with 9.3% revenue growth.
If Good Friday is a day of sorrow and remembrance, it begs the question – why is it called “Good” Friday? Good Friday is called "good" because of the religious significance of the day for Christians, who believe that Jesus's death on the cross was the ultimate sacrifice for humanity's sins.
Good Friday is a holiday for the Banks (and many other businesses). Employers are not obliged to give a day off or pay Public Holiday entitlement for Good Friday, unless it is part of an agreement, ERO, JLC or taken as a day's holiday. Easter Monday, on the other hand, is a Public Holiday.
Is it a good time to invest in stocks?
Stock prices have surged significantly over the past 18 months. The S&P 500 is up by 45% since it bottomed out in October 2022, while the tech-heavy Nasdaq has soared by a whopping 58% in that time. Investing now, then, means paying much higher prices than you would if you'd bought a year or two ago.
The lowest volatility of returns occurs on Mondays for Canada, Tuesdays for Germany, Japan, the United Kingdom, and the United States. The lower trading volumes occur on Mondays and Fridays for Japan, the United Kingdom, and the United States, and the highest trading volume occurs on Tuesdays for each market.
After reaching all-time highs in March this year, the stock market declined precipitously in April. Recent market volatility appears centered on the timing of potential interest rate cuts by the Federal Reserve. Stronger-than-expected economic data is playing a role in Fed rate cut delays.
American equity markets close early on certain days. For instance, the equity markets close early on July 3, Black Friday, and Christmas Eve. Bond markets, on the other hand, close early on the day before major holidays like Good Friday and Labor Day. They also close early on Black Friday and Christmas Eve.
U.S. markets are closed Friday, March 28, in observation of the Good Friday holiday. Stock and bond trading will resume Monday, the day after Easter.
The regular schedule for the New York Stock Exchange and Nasdaq is Monday through Friday from 9:30 a.m. to 4 p.m. Eastern time with weekends off. There are also certain closures for stock market holidays.
The 11 am rule suggests that if a market makes a new intraday high for the day between 11:15 am and 11:30 am EST, then it's said to be very likely that the market will end the day near its high.
Traders that follow the 10 a.m. rule think a stock's price trajectory is relatively set for the day by the end of that half-hour. For example, if a stock closed at $40 the previous day, opened at $42 the next, and reached $43 by 10 a.m., this would indicate that the stock is likely to remain above $42 by market close.
With a $10,000 account, a good day might bring in a five percent gain, which is $500. However, day traders also need to consider fixed costs such as commissions charged by brokers. These commissions can eat into profits, and day traders need to earn enough to overcome these fees [2].
On one level, the answer is about the meaning of words. The term “Good” as applied to Good Friday is an Old English expression meaning holy. It's often called Holy Friday also. But in another sense, Good Friday is always tied to Easter Sunday, which is a joyful celebration of the resurrection of Jesus.
What not to do on Good Friday?
Household chores, including washing of clothes, were also to be avoided on this holy day as it was thought doing them would bring bad luck on the household for the rest of the year. Having a bath on Good Friday was thought to bring bad luck, especially at 3pm, the time Christ is believed to have died on the cross.
Post offices will be closed on Good Friday and Easter Monday. You can find out more here.
It can be nerve-wracking to watch your portfolio consistently drop during bear market periods. After all, nobody likes losing money; that goes against the whole purpose of investing. However, pulling your money out of the stock market during down periods can often do more harm than good in the long term.
| Stock | 2024 return through March 31 |
|---|---|
| SoundHound AI Inc. (SOUN) | 177.8% |
| Vera Therapeutics Inc. (VERA) | 180.4% |
| Avidity Biosciences Inc. (RNA) | 182% |
| Arcutis Biotherapeutics Inc. (ARQT) | 206.8% |
U.S. stock returns: 2023 optimism carries forward
This heightened optimism is on par with the positive outlook in December 2021, when investors anticipated a 6% stock market return for 2022. Investor expectations for stock returns over the long run (defined as the next 10 years) rose slightly to 7.2%.
