Thanksgiving Market Update

by webmaster

Thanksgiving is here—and investors have every reason to be thankful in 2023.

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Market Performance

Throughout the year, the stock market has shown remarkable growth. The Dow Jones Industrial Average has gained 6.4%, the S&P 500 has climbed 19%, and the Nasdaq Composite has soared 36%.

Trading Hours on Thanksgiving

On Thursday, both the New York Stock Exchange and the Nasdaq Stock Market will be closed in observance of Thanksgiving, along with the U.S. bond market and over-the-counter markets.

International Markets on Thanksgiving

Bank and Postal Services

Banks and post offices will be closed on Thanksgiving. Additionally, most services from UPS and FedEx will be suspended.

The Spirit of Thanksgiving

Thanksgiving is a federal holiday celebrated annually on the fourth Thursday in November. Rooted in a 1621 harvest meal between the Pilgrims and Wampanoag people, Americans use this day to express gratitude and celebrate with loved ones. Traditional Thanksgiving dishes include turkey, mashed potatoes, cranberries, and pie.

Holiday Travel Expectations

This year, holiday travel is expected to reach its third-busiest period since the AAA started tracking it in 2000. An estimated 55.4 million people are planning to travel 50 miles or more from home, according to recent reports.

Stock Market Performance During Thanksgiving

Historically, the stock market has seen modest gains during Thanksgiving week. Since 1950, the S&P 500 has averaged a 0.7% increase during this time, according to Dow Jones Market Data.

In conclusion, as we gather with loved ones to celebrate Thanksgiving, let us also appreciate the positive performance of the stock market in 2023. Remember to enjoy the holiday and express gratitude for all that we have.

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