As you’re preparing your Thanksgiving meal or traveling to friends or family members’ homes you won’t have to worry about how your investments are doing. That’s because the US stock and bond markets will be closed on Thursday for Thanksgiving.
But as shoppers head to stores to swoop up Black Friday deals, US stock exchanges will open at their usual time, 9:30 am EST, but will close at 1 pm instead of 4 pm The bond market will also reopen on Friday and close early at 2 pm Most banks should be open on Black Friday.
The day before Thanksgiving, Wednesday, the stock and bond markets will close at their regular times.
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Heading into the holiday, stocks are moving higher on expectations that inflation will continue to ease, prompting the Federal Reserve to issue smaller rate hikes. Stocks are also responding positively to China’s relaxed COVID-19 restrictions.
The Dow Jones Industrial Average is up more than 2% for the week and over 8% for the month, as of Wednesday. Even the tech-heavy Nasdaq Composite, which has been hit especially hard by the Fed’s aggressive rate hikes and is down nearly 30% year-to-date, is up 3% for the month so far and more than 2% for the week.
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Yields on US Treasury notes have fallen in recent days, meaning that investors are more confident about the economic outlook. Yields on bonds go down when the price of bonds rises as more investors buy them.
But the spread between yields on 2-year and 10-year Treasury notes continues to widen, a sign of a possible recession on the horizon.
Elisabeth Buchwald is a personal finance and markets correspondent for USA TODAY. You can ffollow her on Twitter @BuchElisabeth and sign up for our Daily Money newsletter here