US Market Reaction In Diwali Week: Trading On Dow Jones, S&P 500, Nasdaq To Be Closed For 10 Days In Nov 2024

US Market: Despite performing in green during the occasion of Laxmi Pujan on November 1, the US market, however, ended the overall Diwali week in the red. Nasdaq Composite dipped the most, followed by the S&P 500, while Dow Jones weekly performance was down by merely over 0.5%. With the onset of November trading month, it is important to know when Wall Street is open and closed.

In November 2024, Wall Street will be open for 20 sessions and will be closed for 10 days, with one of them being a special holiday and the rest being default holidays of weekends. Additionally, the Nasdaq will also have an early close on November 29.

Check out dates when the US market will be open or not in November 2024:

In the first full-fledged trading week of November, the US market will be open on November 4th, 5th, 6th, 7th, and 8th. The first weekend holiday will be on November 9th and 10th.

A similar pattern will continue in the upcoming week, with Wall Street available for trading from November 11th, 12th, 13th, 14th, and 15th. The market will be closed on the 16th and 17th, as a weekend holiday.

Also, in the third full-fledged trading week of November, buying and selling in the US market will take place from November 18th, 19th, 20th, 21st, and 22nd. The weekend holiday will be on the 23rd and 24th.

The last trading week of November is packed with special holidays. The US market will be opened on the 25th, 26th, and 27th. But will be closed on November 28th, due to Thanksgiving Day.

Thanksgiving is a national holiday celebrated on various dates in October and November in the United States, Canada, Saint Lucia, Liberia, and unofficially in countries like Brazil, Germany and the Philippines. It is also observed in the Dutch town of Leiden and the Australian territory of Norfolk Island. It began as a day of giving thanks for the blessings of the harvest and of the preceding year, as per Wikipedia.

The market will be opened on November 29th. However, as per the Nasdaq list, its trading window will have an early close at 1:00 pm on November 29th. This will be followed by the last holiday for November which will be on the 30th, a Saturday.

US Market In Diwali Week From October 27-November 1st:

Dow Jones: The Dow Jones Industrial Average or DJIA ended at 42,052.19, up by 288.73 points or 0.69% on Friday, November 1, when India celebrated its Laxmi Pujan that day. However, overall, DJIA's weekly performance dipped by 212.35 points or 0.50% from October 27-November 1.

S&P 500: The index also edged higher by 23.35 points or 0.41% on November 1st, however, the weekly performance was down by 105.13 points or 1.80%.

Nasdaq Composite Index: The tech-heavy index surged by 144.77 points or 0.80% to end at 18,239.92 on November 1. But its weekly performance was worst than its counterparts, as Nasdaq fell by massive 408.33 points or 2.2% last week.

Talking about the performance, Trading Economics said, stocks in the US closed sharply higher on Friday, kicking off November with gains as strong earnings from Amazon and Intel bolstered market sentiment, allowing traders to overlook a disappointing jobs report. The S&P 500 and Nasdaq rose 0.4% and 0.8%, respectively, while the Dow Jones gained 288 points. Amazon surged 6.2% fueled by growth in cloud and advertising, and Intel rose 7.8% on positive revenue and guidance. Boeing gained 3.5% after a tentative union agreement, Chevron rose 2.8% on an earnings beat, and Microsoft (+1%) booked gains after earlier post-earnings slumps, while Apple slipped 1.3% on lukewarm guidance.

However, the U.S. jobs report showed only 12K jobs added in October, far below expectations, with analysts attributing the weak data to hurricane disruptions and a Boeing strike. Investors also looked forward to the Fed's upcoming policy meeting and the U.S. presidential election, both expected to add volatility next week. On the week, all the three indices fell, as per the Trading Economics data.