Published on: 2025-12-22
Christmas Eve trading is open in the US, but it is not a regular session. In 2025, the NYSE and Nasdaq are open on Wednesday, 24 December, but they close early at 1:00 p.m. Eastern Time. The reduced hours often mean thinner liquidity, wider spreads, and sharper moves around key levels.
Additionally, the stock market is closed on Christmas Day (Thursday, 25 December 2025).
If you've seen headlines about US federal offices closing on 24 and 26 December, note that this doesn't affect exchange trading hours. Major exchanges have confirmed they'll follow the normal holiday schedule, with an early close on the 24th and a full session on the 26th.
| Market | Status on Wed, 24 Dec 2025 | Closing time (ET) |
|---|---|---|
| NYSE-listed stocks (equities) | Open, early close | 1:00 p.m. |
| Nasdaq-listed stocks (equities) | Open, early close | 1:00 p.m. |
| Eligible NYSE options | Open, early close | 1:15 p.m. |
| Cboe US options | Open, early close | 1:00 p.m. |
| US bond market | Open, early close | 2:00 p.m. |
Options and bonds do not always match the equity close. A simple way to remember this is that equities close at 1:00 p.m., bonds typically wind down at 2:00 p.m., and some options have their own cut-offs depending on venue and contract eligibility.
US exchanges have long used early closings on certain holidays because:
Staffing and operational coverage are lower
Many institutions reduce risk and run light books
The industry prefers to complete key processes before a full market holiday.
The result is that Christmas Eve is often a "real" trading day in name, but it behaves like a half-day with weekend-style liquidity in the final hours.
Even if the market is open, it is not the same market you see on a normal Wednesday.
Many institutional desks run skeleton staffing. Market depth thins. When depth thins, bid–ask spreads widen, and stop-loss clusters get hit more easily.
The S&P 500 can appear calm at the headline level while individual stocks fluctuate more than usual.
Reduced participation can also make ETF rebalancing flows more visible.
On a thin day, a single macro headline can push futures quickly. This is why market commentary often warns that holiday sessions can amplify moves.
Thus, the last week leading up to Christmas is recognised as a reduced timeframe during which trading hours adjust, featuring an early closing on Wednesday and full closure on Thursday.
Extended-hours trading (pre-market and after-hours) is broker-dependent, and liquidity can be poor even on normal days. On a holiday-shortened day, it can be even thinner.
A useful practical rule is this: treat Christmas Eve as a session where price can be "noisy" because fewer institutions are active and the market can be more sensitive to single prints.
If you plan to trade outside the main session, treat it as a different market. You should use limit orders, reduce size, and avoid chasing price.
Futures are often where traders go when the cash market is closed or shortened. CME has announced that its trading hours will not change on Wednesday and Friday.
That does not mean every contract trades with normal depth. It means the exchange is open under its published hours, while liquidity can still be uneven across products and time zones. If you trade futures, you should still check your broker's holiday margin rules and product-specific notices.
If you trade on 24 December, you are not trying to be heroic. You are trying to be precise.
Confirm your venue's early close (NYSE/Nasdaq: 1:00 p.m. ET).
Confirm bond market guidance if you trade rates, credit ETFs, or bond futures.
Reduce order size if you normally trade with tight stops.
Prefer limit orders over market orders, because spreads can be wider.
Expect occasional "air pockets" in single stocks, especially in lower-liquidity names.
Pay close attention to the first hour and the final 30 minutes before the early close, when liquidity often thins further as traders wrap up for the day.
Do not assume the final 10 minutes represent a "true" closing price, the way it might on a normal full day.
If you hedge, consider that partial-day closes can alter hedging behaviour and intraday correlations.
Yes. The NYSE and Nasdaq are open, but they close early at 1:00 p.m. ET on Wednesday, 24 December 2025.
No. US stock exchanges will be closed on Thursday, December 25, 2025.
Yes. Key US exchanges have affirmed they will adhere to the regular timetable and stay open on December 26, 2025.
In conclusion, the US stock market is open on Christmas Eve 2025, but it closes early at 1:00 p.m. ET, with bonds typically closing at 2:00 p.m. ET.
If you trade on 24 December, treat it as a liquidity event as much as a calendar event. Use limit orders, reduce size, and avoid building big exposure late in the session. The best Christmas Eve trading plan is one that respects how thin the market can get when half the Street has already gone home.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
