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Times Square in New York on Tuesday.
Angela Weiss / AFP via Getty Images
We’re almost there – 2020 is almost in the books. The past year will probably be unforgettable, albeit mostly for the wrong reasons. The Covid-19 pandemic affected all aspects of life.
Small businesses, forced to close and limit their ability to slow the spread of the virus, have been attacked. The same is true for travel and leisure companies, as well as cinemas and other live event businesses.
For investors, the past 12 months included a record for stocks, followed by a bear market and then another record. A lot has happened in the middle, including trillions of dollars in government aid and historic Federal Reserve intervention. Meanwhile, e-commerce stocks, technology companies that facilitate work at home, and home entertainment stocks have flourished.
For now, investors will have the necessary clearance for New Year’s Day.
Are the markets open on New Year’s Eve 2020? Are they closed on New Year’s Day 2021?
The New York Stock Exchange and Nasdaq are open on New Year’s Eve, but will close on January 1. The same is true for US over-the-counter markets. US bond markets will close at 2 pm on December 31 and throughout New Year’s Day.
Will international markets be closed on New Year’s Eve? How about New Year’s Day?
The Toronto Stock Exchange will close at 1 pm EST on New Year’s Eve and January 1. The London Stock Exchange will close at 12:30 GMT on New Year’s Eve.
The Hong Kong stock exchange will close at noon, local time on New Year’s Eve, and close on January 1. The Shanghai Stock Exchange will open on December 31, but will close on January 1. The Tokyo Stock Exchange will be closed on both days.
What should I expect next year?
The past 12 months have proven that if more evidence were needed, there is a lot you cannot predict. Investors are looking forward to the new year with some optimism, based on the hope that vaccines can end the pandemic.
Earlier this month, Barron’s published our annual survey of market strategists and investment directors at major banks and money management companies. The 10 experts have S&P 500 forecasts for the end of the year 2021 that range from 3800 to 4400. The average implicit gain is 9%, or 10% to 11% when including expected dividends.
Looking at the actions, Barron’s highlighted
Berkshire Hathaway
(BRK. B), father of Google
Alphabet
(GOOGL),
Apple
(AAPL),
Coke
(KO),
Merck
(MRK),
Goldman Sachs Group
(GS), and
Newmont
(NOR).
At the close of Wednesday, the
S&P 500
the index rose 15.5% to 3,732.04 in 2020. We expect 2021 to be happier and healthier.
Write to Connor Smith at [email protected]