Your Complete Guide to US Stock Market Trading Hours and Calendar

When markets shut down, traders scramble. Understanding the US stock market schedule—from regular trading windows to emergency closures—isn’t just useful; it’s fundamental to executing strategies that actually work.

How the US Stock Market Actually Operates: Trading Hours Breakdown

The two major US exchanges—the New York Stock Exchange (NYSE) and Nasdaq—keep synchronized hours. Here’s the reality: 9:30 AM to 4:00 PM Eastern Time (ET) represents the core trading window, Monday through Friday, when the bulk of activity happens and liquidity peaks.

But let’s break this down across US time zones so you know exactly when you can trade:

• Eastern Time (ET): 9:30 AM – 4:00 PM
• Central Time (CT): 8:30 AM – 3:00 PM
• Mountain Time (MT): 7:30 AM – 2:00 PM
• Pacific Time (PT): 6:30 AM – 1:00 PM
• Alaska Time (AKT): 5:30 AM – 12:00 PM
• Hawaii-Aleutian Time (HT): 3:30 AM – 10:00 AM

This consistency across exchanges ensures traders have a predictable framework to execute buy-and-sell orders.

Extended Trading Windows: Pre-Market and After-Hours Sessions

For those who want to trade outside regular hours, the US market offers alternatives—though with caveats.

Pre-market trading runs from 4:00 AM to 9:30 AM ET. This early window attracts traders who want to position ahead of the day’s open or react to overnight news. However, volume is thin, spreads are wider, and volatility often spikes unpredictably.

After-hours trading operates from 4:00 PM to 8:00 PM ET, conducted via electronic communication networks (ECNs). Same story: lower liquidity, higher transaction costs, and potential execution challenges. Your order might get filled at a price significantly different from where you placed it.

The catch? Not all securities are available during these extended sessions, and your broker may impose restrictions. Always verify your brokerage’s policies before attempting extended-hours trades.

What Happens When You Try to Trade During Market Closures

Place an order when markets are shut? It won’t execute immediately. Instead, it typically sits in a queue until the next regular trading session opens. This delay can work for you or against you—if overnight news dramatically shifts sentiment, your queued order might fill at a price you didn’t anticipate.

For traders using extended-hours sessions through their broker, orders can execute, but with significantly worse conditions. Bid-ask spreads widen considerably, reducing your chances of getting filled at your target price. This translates to real money lost in slippage and commissions.

Understanding the Bond Market Schedule in the US

The bond market follows its own rhythm. Overseen by the Financial Industry Regulatory Authority (FINRA), bond trading typically runs from 8:00 AM to 5:00 PM ET, Monday through Friday. This covers US Treasuries, corporate bonds, municipal bonds, and mortgage-backed securities.

The key difference? The bond market offers more flexibility, especially in over-the-counter (OTC) trading, but it also closes early on certain days. On the day before major holidays, bond trading typically wraps up at 2:00 PM ET. This early closure can spike bid-ask spreads and reduce execution quality significantly.

The US Stock Market Holiday Calendar for 2025

The market fully closes on these dates:

• New Year’s Day (Wednesday, January 1)
• National Day of Mourning (Thursday, January 9)
• Martin Luther King Jr. Day (Monday, January 20)
• President’s 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)

Half-day closures (market open 9:30 AM – 1:00 PM ET):

• Day before Independence Day (Thursday, July 3)
• Day after Thanksgiving (Friday, November 28)
• Christmas Eve (Wednesday, December 24)

When holidays fall on weekends, the market adjusts: Saturday holidays shift the closure to Friday; Sunday holidays shift it to Monday.

Which US Holidays Don’t Shut Down Markets?

Interestingly, the US stock market keeps running on Columbus Day (Indigenous Peoples’ Day) and Veterans Day. Why? These aren’t considered major market-moving holidays. Financial institutions operate normally, so trading activity continues without significant friction.

Historically, the market no longer closes for Easter Monday or Decoration Day (Memorial Day’s predecessor). As global markets evolved and trading volume intensified, the schedule was streamlined for consistency.

Emergency Market Closures: When the Unexpected Happens

Beyond scheduled holidays, unplanned closures occur when catastrophic events threaten market stability. Here’s the historical record:

The Panic of 1873 – The NYSE shut down for 10 days starting September 20, 1873, after the Jay Cooke & Company bank collapsed, triggering widespread financial panic.

The Panic of 1914 – On July 31, 1914, as World War I erupted, the NYSE closed for nearly four months (reopening December 1914). This remains the longest market closure in US history.

The Great Depression (1933) – President Franklin D. Roosevelt declared a bank holiday in March 1933. The NYSE closed for several days as the government attempted to stabilize the banking system.

The Kennedy Assassination (1963) – Following President Kennedy’s assassination on November 22, 1963, the NYSE closed early that day and remained closed the following day.

September 11, 2001 – The most significant modern closure. Both the NYSE and Nasdaq shut down for four trading days (September 11-14), the longest unplanned closure since 1914, allowing the financial system to stabilize after the terrorist attacks.

Hurricane Sandy (2012) – The first weather-related market shutdown since 1888. The storm forced a two-day NYSE and Nasdaq closure, making trading operations impossible in New York City.

How Circuit Breakers Function: Automatic Trading Halts

When volatility spirals out of control, circuit breakers kick in—automatic mechanisms that temporarily pause trading on major indices like the S&P 500. They’re designed to prevent panic-driven selloffs and give traders time to recalibrate.

The three-tier system works like this:

Level 1 (7% decline): Trading halts for 15 minutes, unless the decline occurs after 3:25 PM ET, in which case trading continues.

Level 2 (13% decline): Another 15-minute halt (again, not triggered after 3:25 PM ET).

Level 3 (20% decline): Trading stops for the remainder of the trading day, regardless of when it occurs.

These circuit breakers apply during regular market hours and serve as critical guardrails preventing catastrophic market meltdowns.

Final Takeaway

Mastery of the US stock market schedule separates disciplined traders from reactive ones. Knowing exactly when the NYSE and Nasdaq are open, how extended-hours trading functions, which holidays matter, and how emergency mechanisms work allows you to strategize with precision. Whether you’re capitalizing on pre-market momentum, adjusting for holiday-related volatility, or bracing for circuit breaker events, schedule awareness transforms planning into competitive advantage. The markets reward preparation—and punish complacency.