It’s that time of the year again, and one of the most awaited days for shoppers is finally here – Black Friday.
According to experts, retail sales are expected to see a boost this holiday season, with a predicted increase between 3% and 5% compared to the previous year. This growth is in line with the average annual increase witnessed before the pandemic, as per estimates from the National Retail Federation.
Trading Hours on Black Friday
For those interested in the stock market, here’s what you need to know about the trading hours on Friday. The New York Stock Exchange, the Nasdaq Stock Market, and over-the-counter markets will open at 9:30 a.m. Eastern but will close early at 1 p.m. Bond markets, on the other hand, will open at 8 a.m. Eastern and close at 2 p.m.
International Markets on Black Friday
Curious about international markets? Well, you’ll be glad to know that foreign stock exchanges in London, Hong Kong, Shanghai, Toronto, and Tokyo will be open on Friday.
Unraveling the Origins of Black Friday
Black Friday, observed a day after Thanksgiving, has become synonymous with unparalleled shopping opportunities. As consumers eagerly search for the best deals ahead of the holidays, stores and websites witness a flurry of activity on this day.
So gear up and get ready to make the most of this shopper’s paradise – Black Friday!
The Origin of “Black Friday”
Contrary to popular belief, the term “Black Friday” did not originate from businesses turning profits after Thanksgiving. According to Britannica, the name actually has its roots in Philadelphia. The city’s police used the term in the 1960s to describe the chaos caused by the influx of holiday shoppers and visitors.
Availability of Banks and Post Offices
As for the availability of banks, post offices, and delivery services on Friday, here’s what you need to know:
Banks
Banks will be open on Friday, allowing you to carry out your financial transactions without any disruptions.
Post Offices
Post offices will also be open, ensuring that your mail and packages continue to be delivered promptly.
UPS and FedEx
Both UPS and FedEx services will be available on Friday, so you can expect your packages to be picked up and delivered as scheduled.
Stock Market Performance During Thanksgiving Week
If we look at historical patterns, it suggests that the stock market may experience modest gains during Thanksgiving week. Dow Jones Market Data reveals that, on average, the S&P 500 has seen a slight increase of 0.7% during this particular week since 1950.
Furthermore, it’s worth noting that the three major U.S. indexes have performed well so far in 2023. The Dow Jones Industrial Average has risen by 6.4%, the S&P 500 has witnessed a 19% increase, and the Nasdaq Composite has surged by an impressive 36%.
So, keep an eye on the stock market as we approach the end of the year.
