Is the stock market closed on Columbus Day, or Indigenous Peoples' Day, in 2023? The answer to this question is no. The stock market will be open Monday, October 9, for the annual holiday. However, bond traders will get an extended weekend, with the bond market closed on Monday.
Unlike some holidays, however, there are no early hours for bond traders ahead of Columbus Day, with regular trading hours on Friday, October 6.
As a reminder, Columbus Day is a federal holiday that occurs on the second Monday in October and marks the voyage and landing of Italian explorer Christopher Columbus in the Americas. Indigenous Peoples' Day, celebrated since the 1990s in tandem with Columbus Day, acknowledges Native American cultures and people who inhabited the Americas prior to European exploration.
It has been a turbulent stretch for investors. As of this writing, the Dow Jones Industrial Average is down nearly 7% since late July, while the S&P 500 is off 7.5% and the Nasdaq Composite is more than 8% lower.
And while the fourth quarter is historically a strong one for stocks, an end-of-year rally in 2023 could be "tricky" for the equities market considering "the overhang of a government shutdown, interest rates near 16-year highs [and] a market still trying to digest the Federal Reserve's 'higher for longer' message," writes Jeffrey Buchbinder, chief equity strategist, Lawrence Gillum, chief fixed income strategist, and Adam Turnquist, chief technical strategist for LPL Financial. Additionally, headwinds facing consumers that include a drawdown in excess savings, student loan repayments and higher borrowing costs could weigh on markets.
Any potential rally will depend on interest rates, the team from LPL Financial says. "It may be difficult for corporate America to come up with enough good things to say to drive stocks higher given the economy is starting to lose some momentum and the dollar is so strong," the group writes. They add that while the government shutdown has been averted for now, the mid-November deadline isn't that far off and could keep pressure on the bond market in the near term – especially as Congress remains in disarray following the ouster of Kevin McCarthy as speaker of the House.
Meanwhile, for those wondering what time does the market open for regular trading hours, both the Nasdaq Stock Market and the New York Stock Exchange (NYSE) run from 9:30 am to 4:00 pm Eastern time Monday through Friday.
Are banks closed on Columbus Day? The answer to that question is yes. Monday, October 9, is one of several bank holidays in 2023, and so banks will be closed.
Below, we feature a full schedule of all stock market holidays and bond market holidays for 2023.
2023 stock market holidays
|Monday, Jan. 2||New Year's Day (Observed)||Closed||Closed||Closed|
|Monday, Jan. 16||Martin Luther King, Jr. Day||Closed||Closed||Closed|
|Monday, Feb. 20||Presidents' Day/Washington's Birthday||Closed||Closed||Closed|
|Thursday, April 6||Maundy Thursday||Open||Open||Early close (2 p.m.)|
|Friday, April 7||Good Friday||Closed||Closed||Closed|
|Friday, May 26||Friday Before Memorial Day||Open||Open||Early close (2 p.m.)|
|Monday, May 29||Memorial Day||Closed||Closed||Closed|
|Monday, June 19||Juneteenth National Independence Day||Closed||Closed||Closed|
|Monday, July 3||Monday Before Independence Day||Early close (1 p.m.)||Early close (1 p.m.)||Early close (2 p.m.)|
|Tuesday, July 4||Independence Day||Closed||Closed||Closed|
|Monday, Sept. 5||Labor Day||Closed||Closed||Closed|
|Monday, Oct. 9||Columbus Day||Open||Open||Closed|
|Friday, Nov. 10||Veterans Day||Open||Open||Closed|
|Thursday, Nov. 23||Thanksgiving Day||Closed||Closed||Closed|
|Friday, Nov. 24||Day After Thanksgiving||Early close (1 p.m.)||Early close (1 p.m.)||Early close (2 p.m.)|
|Monday, Dec. 25||Christmas Day||Closed||Closed||Closed|
* This is the recommended bond market holiday schedule from the Securities Industry and Financial Markets Association (SIFMA). This schedule is subject to change.
With over a decade of experience writing about the stock market, Karee Venema is an investing editor and options expert at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
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