It’s the day after Thanksgiving, and many people are still taking time off of work or school. Some people use this day off to relax or spend time with family, while others hunt for deals on Black Friday.
Popular Google searches in the days before Thanksgiving included questions that asked if banks and the stock market are open on Black Friday.
THE QUESTION
Are most banks and the stock market open on Black Friday?
THE SOURCES
THE ANSWER
Yes, most banks and the stock market are open on Black Friday.
WHAT WE FOUND
Most banks and the stock market close on the same holidays that federal government employees do. Black Friday is not a federal holiday, which means most banks and the stock market remain open.
There are 10 federal holidays, the U.S. Department of Commerce says. Thanksgiving is one of those 10, but Black Friday is not. In fact, no two federal holidays fall on consecutive days.
The 10 federal holidays are also considered bank or Federal Reserve holidays, the Federal Reserve Bank of Atlanta says. These holidays are observed by all Federal Reserve member banks.
Many of the country’s largest banks also observe this holiday schedule, according to a list curated by GOBankingRates. Bank of America, Wells Fargo, Citi and Fifth Third Bank are among the many banks that observe the federal holiday schedule.
Some credit unions follow separate schedules and therefore close on Black Friday, GOBankingRates says. Credit unions that will be closed on Black Friday include Members Credit Union, Signature Federal Credit Union, Unify Financial Credit Union and Welcome Federal Credit Union.
The New York Stock Exchange, or the NYSE, also follows the federal holiday schedule. The Nasdaq stock exchange largely follows the federal schedule, as well, except that it closes early on two additional days: Black Friday, when it closes at 1:00 p.m. ET and July 3rd, when it also closes at 1:00 p.m. ET.
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