Times Square in New York City on Tuesday.
Angela Weiss/AFP via Getty ImagesWe’re almost there—2020 is nearly in the books. The past year will likely prove unforgettable, though mostly for the wrong reasons. The Covid-19 pandemic has touched every aspect of life.
Small businesses, forced to close and limit capacity to slow the spread of the virus, have been hammered. The same is true for travel and leisure firms, as well as movie theaters and other live-event businesses.
For investors, the past 12 months included a record for stocks, followed by a bear market, then another record high. A lot went on in between, including trillions of dollars in government aid and historic intervention from the Federal Reserve. Meanwhile, e-commerce stocks, technology firms that facilitate working from home, and at-home entertainment stocks have flourished.
For now, investors will get some much-needed time off 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 for New Year’s Eve, but will be closed on Jan. 1. The same is true for U.S. over-the-counter markets. U.S. bond markets will close at 2 p.m. on Dec. 31, and all day on 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 p.m. EST on New Year’s Eve, and for the day on Jan. 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 be closed on Jan. 1. The Shanghai Stock Exchange will be open on Dec. 31, but close Jan. 1. The Tokyo Stock Exchange will be closed on both days.
What should I expect in the year ahead?
The past 12 months have proved, if more proof was needed, there is much you can’t predict. Investors are looking ahead to the new year with some optimism, based on hope that vaccines can put an end to the pandemic.
Earlier this month, Barron’s published our annual survey of market strategists and chief investment officers at large banks and money-management firms. The 10 experts have year-end 2021 S&P 500 forecasts that range from 3800 to 4400. The average implied gain is 9%, or 10% to 11% when including expected dividends.
Looking at stocks, Barron’s highlighted Berkshire Hathaway (BRK. B), Google’s parent Alphabet (GOOGL), Apple (AAPL), Coca-Cola (KO), Merck (MRK), Goldman Sachs Group (GS), and Newmont (NEM).
As of Wednesday’s close, the S&P 500 index had risen 15.5% to 3732.04 in 2020. Here’s hoping 2021 proves to be happier and healthier.
Write to Connor Smith at connor.smith@barrons.com
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