US market closures around President Jimmy Carter’s funeral
US stock markets will close on 9 January 2025 in honour of former President Jimmy Carter. Here's what you need to know about modified trading hours and available markets.
US stock market closure details
US stock market closure details Major US exchanges, including the ASX 200 and NASDAQ 100, will fully close their equity and options markets on 9 January, observing a National Day of Mourning.
The bond market will operate on a shortened schedule, closing early at 2:00pm Eastern Time (ET) rather than its usual 4:00pm ET close. This market closure aligns with the state funeral proceedings for former US president Jimmy Carter, who passed away on 29 December 2024, at the age of 100.
Current president Joe Biden officially declared 9 January as a National Day of Mourning, triggering the market closures as part of honouring the former president's legacy.
Historical context and precedent
Market closures for presidential funerals follow established tradition in US financial markets, showing respect for former US presidents. A recent example occurred in December 2018, when markets closed to honour former president George H.W. Bush during his state funeral proceedings. These closures apply to all major US exchanges and affect trading across shares, options, and other securities.
The tradition demonstrates the deep connection between American political institutions and financial markets, with exchanges formally recognising the passing of former presidents.
IG's modified trading hours
- US index futures on IG's trading platform, including Down Jones, S&P 500, Nasdaq 100 and US Russell 2000, will close early at 2:30pm GMT, though out-of-hours pricing remains available until futures reopen at 11:00 pm GMT.
- The Volatility Index (VIX) observes an early closure at 2:30pm GMT before resuming trading at 9:00pm GMT, while US rates markets close at 6:15pm GMT and reopen at 11:00pm GMT.
- Chicago Soft Commodities will close at 6:15 pm GMT, reopening at 1:00 am GMT, though New York cocoa, coffee and New York sugar futures maintain regular hours.
- Lumber and livestock markets close early at 6:15 pm GMT, resuming on 10 January at 3:00pm and 2:30pm GMT, respectively.
Impact on trading activities
Traders using online trading platforms should review any open positions in affected markets before the closure times. While some US markets are paused, market-moving news and events may still occur, potentially affecting prices when markets reopen.
Consider exploring opportunities in unaffected markets or practising strategies with a demo account during the closure periods. Monitor global market reactions and news developments that could impact US markets upon reopening.
How to prepare for market changes
- Review your current positions in affected US markets
- Note the specific closing and reopening times for markets you trade
- Consider setting alerts for market reopening times
- Adjust stop-loss and take-profit levels accordingly
- Plan your trading strategy around modified market hours.
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