What Happens to U.S. Markets During President Jimmy Carter’s Funeral?

January 8, 2025

On January 9, the U.S. stock market will experience a significant disruption as it observes a National Day of Mourning. This closure corresponds with the state funeral of former President Jimmy Carter, who passed away on December 29, 2024, at the age of 100. Such market closures are customary to honor the legacy of former U.S. presidents, and current President Joe Biden has officially designated this day in Carter’s memory. Major U.S. exchanges, including the ASX 200 and NASDAQ 100, will fully close their equity and options markets, while the bond market will operate on a shortened schedule.

Detailed Overview of US Market Closures

In recognizing former President Jimmy Carter’s impact and contributions to the country, President Biden’s declaration ensures that the nation’s financial markets will remain closed for the day. This closure includes all major U.S. exchanges, halting trading across shares, options, and other securities starting January 9. The bond market, usually closing at 4:00 pm Eastern Time (ET), will instead close early at 2:00 pm ET to reflect the observance. The disruption impacts various trading activities, making it critical for traders and investors to adjust their strategies accordingly.

Historically, the U.S. financial markets have shown respect for former presidents by observing market closures during their state funerals. A notable precedent occurred in December 2018 when the markets closed to honor former President George H.W. Bush. Such traditions reinforce the interconnectedness between the United States’ political and financial realms, marking it as a period of national reflection and respect. Traders and investors should remain mindful of these established customs as they prepare for the upcoming changes during President Carter’s memorial.

Adjustments in Trading Platforms and Schedules

Several trading platforms will also modify their schedules to align with the National Day of Mourning. For instance, IG’s trading platform will adjust the trading hours for U.S. index futures, including Dow Jones, S&P 500, NASDAQ 100, and U.S. Russell 2000. These indexes will close early at 2:30 pm GMT, although out-of-hours pricing will still be available until futures reopen at 11:00 pm GMT. Moreover, the Volatility Index (VIX) will adhere to a similar early closure, resuming trading later in the evening.

Other commodity markets will also face schedule shifts. Chicago Soft Commodities, lumber, and livestock markets will close early at 6:15 pm GMT, with New York cocoa, coffee, and sugar futures maintaining regular hours. For traders and investors, reviewing specific closings and reopening times will be crucial for managing positions and trading plans during this period. Understanding these adjustments will help mitigate potential disruptions and enhance preparedness as the markets resume activity post-funeral.

Strategic Preparation for Market Changes

On January 9, the U.S. stock market will experience a significant disruption as it observes a National Day of Mourning. This closure is in honor of the state funeral of former President Jimmy Carter, who passed away on December 29, 2024, at the age of 100. It is customary for U.S. markets to close as a mark of respect for former presidents, and current President Joe Biden has officially designated this day in memory of Carter. Major U.S. exchanges, such as the ASX 200 and NASDAQ 100, will completely shut down their equity and options markets. Meanwhile, the bond market will operate on a shortened schedule. This day of mourning reflects the nation’s deep respect for President Carter’s contributions and legacy, acknowledging his significant impact on the country. The decision underscores the reverence held for former presidents, allowing the nation to pause and honor their memory and the service they provided during their lifetime.

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