Updated: March 15, 2025
As investors gear up for the remainder of 2025, the holiday schedules for major stock exchanges are in focus, offering a clear picture of when trading halts. The New York Stock Exchange (NYSE), Nasdaq, and Toronto Stock Exchange (TSX) observe distinct yet overlapping closures, reflecting national holidays in the United States and Canada. Here's a breakdown of the days these markets shut their doors in 2025, based on current official announcements.
NYSE and Nasdaq: U.S. Market Closures
The NYSE and Nasdaq, two of the world’s leading exchanges, align their holiday schedules with U.S. federal observances, closing for 10 full days in 2025. Trading ceases completely on these dates, with regular hours (9:30 a.m. to 4:00 p.m. ET) resuming the following business day unless otherwise noted:
- New Year’s Day: Wednesday, January 1
- Martin Luther King Jr. Day: Monday, January 20
- Washington’s Birthday (Presidents’ Day): Monday, February 17
- Good Friday: Friday, April 18
- Memorial Day: Monday, May 26
- Juneteenth National Independence Day: Thursday, June 19
- Independence Day: Friday, July 4
- Labor Day: Monday, September 1
- Thanksgiving Day: Thursday, November 27
- Christmas Day: Thursday, December 25
In addition to full closures, both exchanges close early at 1:00 p.m. ET on three occasions: Thursday, July 3 (day before Independence Day), Friday, November 28 (day after Thanksgiving, commonly known as Black Friday), and Wednesday, December 24 (Christmas Eve). These early closings allow traders a breather during holiday-adjacent periods, though pre-market and after-hours sessions remain unavailable on full closure days.
Toronto Stock Exchange: Canadian Market Closures
The TSX, Canada’s premier equities exchange, follows a holiday schedule tied to Canadian statutory holidays, differing slightly from its U.S. counterparts. In 2025, the TSX closes on the following days, with regular trading hours (9:30 a.m. to 4:00 p.m. ET) otherwise in effect:
- New Year’s Day: Wednesday, January 1
- Family Day: Monday, February 17 (coinciding with Washington’s Birthday in the U.S.)
- Good Friday: Friday, April 18
- Victoria Day: Monday, May 19
- Canada Day: Tuesday, July 1
- Civic Holiday: Monday, August 4
- Labour Day: Monday, September 1 (aligned with U.S. Labor Day)
- Thanksgiving Day: Monday, October 13 (distinct from U.S. Thanksgiving)
- Christmas Day: Thursday, December 25
- Boxing Day: Friday, December 26
The TSX also closes early at 1:00 p.m. ET on Wednesday, December 24 (Christmas Eve), mirroring the NYSE and Nasdaq. Unlike the U.S. exchanges, the TSX does not observe Martin Luther King Jr. Day, Juneteenth, or U.S. Independence Day, reflecting its Canadian focus. However, it adds holidays like Family Day, Victoria Day, Canada Day, Civic Holiday, and Boxing Day, which are unique to its calendar.
Market Implications and Planning
These closures impact trading volumes and liquidity, often leading to quieter markets in the days leading up to holidays and heightened activity upon reopening. For instance, the early close on July 3 for NYSE and Nasdaq, followed by the July 4 closure, creates a long weekend that typically sees reduced participation beforehand. Similarly, the TSX’s consecutive closures on December 25 and 26 extend the holiday break for Canadian traders.
Investors and traders across North America adjust strategies around these dates, with some opting to pause activity during holiday periods due to lower liquidity, while others capitalize on post-holiday volatility. The overlap of Good Friday, Labour Day, and Christmas Day across all three exchanges highlights shared cultural touchpoints, despite differing national priorities.
As of today, March 15, 2025, the Good Friday closure on April 18 marks the next significant halt for all three markets, giving traders an early heads-up for planning. With no unexpected changes announced, these schedules provide a reliable roadmap for the year ahead, ensuring markets and participants stay in sync.
