The US stock market will close early on November 29, 2024, owing to Black Friday 2024. The financial center was closed for the entire day on November 28, 2024, due to the Thanksgiving holiday. However, business will continue as usual for the rest of the year until December 2024.
The Nasdaq and the New York Stock Exchange will stay open on Black Friday 2024 but will close early at 1 p.m. Similarly, the US bond market will close early at 2 p.m. today, as per the schedule released by the Securities Industry and Financial Markets Association (SIFMA).
The stock market will remain closed on Christmas, i.e., December 25, 2024. It will close early on Christmas Eve. According to USA Today, markets shall close at 1 p.m. on December 24, 2024.
As per Reuters, consumer confidence in the US has improved this month for the holiday season, reaching a level of 11.7 since 2023. Even though inflation has cooled down, prices remained high. Regarding this, LSEG's Jharonne Martis said,
“Consumers feel more upbeat about their future economic conditions. This is after a whole year of volatility surrounded around macroeconomic worries and around the US political election but now that has settled, we are seeing that consumers feel more upbeat about the future.”
Consumers can grab the most discounts from sales during Black Friday 2024
Black Friday 2024 marks the beginning of the holiday season, and retailers are aware that consumers are value-oriented, and this is why they launched their deals earlier this year, in October 2024. Martis added,
“The amount of merchandise on sale this year is actually one of the lowest we have seen for the month of November since we started collecting this data about a decade ago. On top of that, the average discount has decreased from 39% last year to 34% this year. So, it’s also the lowest we have seen during the month of November.”
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According to the news outlet, consumers seemed to spend less money on goods and more on experiences. Martis added that hotels and restaurants are expected to be the second strongest sector in terms of earning growth rates during the holiday season. As consumers would hit the malls while they shopped, they would also dine out at restaurants, which will make the sector strong during the season.
With that information in hand, it’s now time for buyers to get the most out of the ongoing Black Friday 2024 deals and discounts.
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