Are Banks & the Stock Market Open on Memorial Day Weekend 2020?

May 22, the Friday before Memorial Day, is NOT a federal holiday, so most banks are open today, although hours may vary depending on your location. The stock market also remains open on Friday with reduced hours – Nasdaq closes at 2 p.m. today instead of 4.

Memorial Day falls on Monday, May 25 this year, and since it is a federal holiday most government services will be closed all day, including banking institutions and the stock market. Other services unavailable on Monday include mail delivery, the DMV and all county libraries, as well as local, state and federal courts.

The stock market will reopen on Tuesday, May 26, and proceed with its normal hours – opening at 9:30 a.m. EST and closing at 4 p.m. EST. The next market holiday is Independence Day, which falls on a Saturday this year, so the market will be closed the Friday before, on July 3.

Read on for a complete rundown of the stock market holiday schedule.

NYSE Closes for All Major & Minor Federal Holidays

GettyTraders work on the floor of the New York Stock Exchange (NYSE) before the Closing Bell on December 06, 2018 in New York City.

The stock market closes for the full day on all major and minor federal holidays, but there are also a few days that the market closes early for scattered throughout the year. The hours will be reduced later in 2020 to accommodate Thanksgiving and Christmas, as well as Independence Day, since it falls on a Saturday this year.

Check out a full list of the federal holidays that lead the NYSE to close below (minus Good Friday, which is not a federal holiday):

• New Year’s Day (January 1)
• Martin Luther King Jr. Day (January 20)
• President’s Day (February 17)
• Good Friday (April 10)
• Memorial Day (May 25)
• Independence Day (July 4)
• Labor Day Monday (September 7)
• Thanksgiving Day (November 26)
• Christmas Day (December 25)

According to USA Today, the Securities Industry and Financial Markets Association recommended the U.S. bond market close at 2 p.m. ET on Friday (May 22) and remain closed on Monday (May 25). U.S. commodities markets, including gold and oil futures, also won’t be open for trading Monday, the site reports. These hours are common for Nasdaq during holiday weekends such as Memorial weekend, Independence Day and the Friday after Thanksgiving.

Nasdaq Follows a Similar Holiday Schedule

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The Nasdaq holiday schedule is nearly identical to NYSE, with the same limited trading hours during half days. “The following is a schedule of stock market and bond market holidays for 2020,” the site states. “Please note that regular trading hours for the New York Stock Exchange (NYSE) and Nasdaq Stock Market are 9:30 a.m. to 4 p.m. Eastern on weekdays. The stock markets close at 1 p.m. on early-closure days; bond markets close early at 2 p.m.”

Nasdaq observes the following holidays with either reduced hours or closures, according to the holiday schedule:

• New Year’s Day
• Martin Luther King Jr. Day
• President’s Day/Washington’s Birthday
• Maundy Thursday
• Good Friday
• Friday before Memorial Day
• Memorial Day
• Day before Independence Day
• Independence Day
• Labor Day
• Columbus Day
• Veterans Day
• Thanksgiving Day
• Friday after Thanksgiving
• Christmas Eve
• Christmas Day
• New Year’s Eve

There are two rules that dictate stock market closures during holidays, according to the Nasdaq website. The first rule is that “if the holiday falls on a Saturday, the market will close on the preceding Friday,” and the second is “if the holiday falls on a Sunday, the market will close on the subsequent Monday.”

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