WASHINGTON – It’s hard to remember that Wall Street will again observe its traditional, annual Good Friday trading break.
Indeed, with the constantly incoming barrage of coronavirus news, it’s easy to forget that observant Christians are already in the midst of Holy Week. But for the first time in my increasingly long memory, however, there will be no Holy Week church services throughout this most solemn week of the liturgical year due to the social isolation deemed necessary to slow or stop the coronavirus death toll.
Churches throughout the Western world will largely be empty. Although some Holy Week services, including those on Easter Sunday, will be televised for various faiths.
I’ve often thought it odd that Wall Street – a uniformly amoral and materialistic place – still cordons off Good Friday as a trading holiday or suspension, just as it has done for well over 100 years. To some, particularly those of other faiths, this tradition seems like a bizarre anachronism. Those traders and investors who observe the holiday themselves often take this short trading break with a secular attitude.
Yet in the Plague Year 2020, it’s somehow comforting to see that at least a vestige of religious belief can still permeate the business of this nation, at least for a couple of hours every time Good Friday rolls around. We could certainly use some time to contemplate the meaning of life in this strange fiscal, medical, political and religious season.
Meanwhile, for the purely practical, this is how the Good Friday trading break and a related Holy Thursday bond trading time adjustment unfold this year for equity and bond transactions and equity settlement dates.
Good Friday 2020 Trading Break on Wall Street
Thursday, April 9, 2020:
- U.S. Fixed Income markets (bonds and related debt instruments) close early on Holy Thursday afternoon, at 2:00 p.m. ET.
Friday, April 10, 2020
- U.S. and Canadian markets are closed in observance of Good Friday.
- There are no Pre-Market or After Hours trading sessions today.
Settlement dates for Equity (stock and option) orders:
|Trade Date||Settlement Date|
|Wednesday, April 8, 2020||Monday, April 13, 2020|
|Thursday, April 9, 2020||Tuesday, April 14, 2020|
That’s it for now. Stay safe. And healthy.
— Headline image: Image via Pixabay. Public domain, CC license 0.0.