The United States of America (USA) President Donald Trump on Thursday issued an executive order closing non-essential federal operations on Dec. 24 and 26, 2025, creating a five-day holiday break, including Christmas, with exceptions for national security needs.
However, despite the order, the New York Stock Exchange (NYSE) and Nasdaq have confirmed that US equity markets will maintain their scheduled trading hours next week.
While Trump's order effectively shuts down executive departments and agencies, the private financial sector and major exchange operators have opted to stick to their original 2025 calendars.
Historically, NYSE observes select federal holidays like Good Friday but skips others such as Veterans Day, reminding its independent calendar is driven by global trading incentives rather than domestic policy.
US Market Schedule
According to official notices released by the exchanges shortly after the President’s announcement, the trading schedule for the holiday week is set to remain as follows:
Wednesday, Dec. 24 (Christmas Eve): Markets will observe an early close at 1:00 PM ET.
Thursday, Dec. 25 (Christmas Day): Markets will be closed for the full day.
Friday, Dec. 26: Markets will operate on a regular, full trading schedule, closing at 4:00 PM ET.
The President's executive order is a traditional gesture often seen when Christmas falls on a Tuesday or Thursday, though granting both the day before and after is less common. However, because the NYSE and Nasdaq are private entities, they are not obligated to follow federal closures.
The bond markets, governed by the Securities Industry and Financial Markets Association (SIFMA), are also expected to follow a similar path, with an early close on Dec. 24 and a full session on Dec. 26, though some fixed-income participants may see reduced activity.
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