Thanksgiving Week Stock Market: S&P 500 Each Year Since 1950

Thanksgiving Week Stock Market: S&P 500 Each Year Since 1950

Thanksgiving week stock market history: the S&P 500 rose in 53 of 76 years since 1950. Every year, Black Friday's 1 p.m. close, Cyber Monday and 2026 dates.

2026-10-16
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30 min read
Market Pulse
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Thanksgiving Week Stock Market History: The S&P 500 Around the Holiday, 1950–2025

Updated October 2026. Data through Thanksgiving week 2025 and the December 31, 2025 close. This page will be updated after Thanksgiving week 2026, following the November 30, 2026 close.

Short answer: From 1950 to 2025 the S&P 500 rose in 53 of 76 Thanksgiving weeks, averaging +0.71%. The Wednesday before plus Black Friday rose 84% of the time. In 2026 the market is closed Thursday, November 26 and closes early, at 1:00 p.m. ET, on Friday, November 27.

This page measures the Thanksgiving week stock market for every year since 1950, using S&P 500 closing prices from two independent data vendors. It defines three windows explicitly — the full holiday week, the Wednesday-before-plus-Black-Friday pair, and the Monday after — then lists every year, the averages by decade, the best and worst weeks, and what December did next. It also answers the practical questions: whether the stock market is open on Black Friday, what time it closes, and the exact dates for 2026.

Thanksgiving 2026 stock market hours and dates

Thanksgiving falls on the fourth Thursday of November, so in 2026 it is Thursday, November 26. The dates below follow the official NYSE holiday calendar and Nasdaq's holiday schedule; the bond-market hours are SIFMA's recommended schedule.

DayDateUS stock market (NYSE and Nasdaq)Role on this page
FridayNovember 20, 2026Regular session, 9:30 a.m.–4:00 p.m. ETBase close for the full week
MondayNovember 23, 2026Regular sessionDay 1 of Thanksgiving week
TuesdayNovember 24, 2026Regular sessionBase close for Wednesday + Black Friday
WednesdayNovember 25, 2026Regular sessionThe day before Thanksgiving
ThursdayNovember 26, 2026Closed (Thanksgiving Day)—
FridayNovember 27, 2026Early close at 1:00 p.m. ET (1:15 p.m. for eligible options); SIFMA recommends a 2:00 p.m. ET bond-market closeBlack Friday; end of both windows
MondayNovember 30, 2026Regular session; last trading day of NovemberThe Monday after ("Cyber Monday")

The 2026 results will be added to every table on this page after the November 30, 2026 close. For reference, the NYSE calendar also lists Thanksgiving 2027 on Thursday, November 25 (closed) with an early close on Friday, November 26, 2027; the full 2027 schedule is in our stock market holidays 2027 calendar.

Is the stock market open on Black Friday?

Yes. The NYSE and Nasdaq are closed on Thanksgiving Day and open on Black Friday, but only until 1:00 p.m. ET. Both exchanges list November 27, 2026 as an early-close day, and NYSE adds that eligible options trade until 1:15 p.m. ET. The US bond market follows SIFMA's recommendation of a 2:00 p.m. ET close the same day.

Because the session lasts three and a half hours instead of six and a half, and many traders take the day off, Black Friday is one of the shortest trading days of the year. The name itself comes from retail: it was used by police in Philadelphia in the 1950s and 1960s to describe shopping crowds, and it became national in the 1980s, according to the history summarized by Wikipedia. It is unrelated to the Black Friday of 1869, a gold-market panic. The Monday after has its own nickname, "Cyber Monday," which the National Retail Federation's Ellen Davis introduced in a November 2005 press release (Wikipedia).

Three ways to measure Thanksgiving week

Headlines use "Thanksgiving week" loosely. This page uses three fixed windows, all measured on S&P 500 closing prices:

WindowStarts at the close ofEnds at the close ofTrading sessions
Thanksgiving weekThe Friday before ThanksgivingBlack Friday4 (Monday, Tuesday, Wednesday, Friday)
Wednesday + Black FridayThe Tuesday before ThanksgivingBlack Friday2
Next Monday ("Cyber Monday")Black FridayThe Monday after Thanksgiving1

The second window is the pairing popularized by the Stock Trader's Almanac, which has long tracked the day before and the day after Thanksgiving together. The third tests what happens once the holiday is over and a full trading week resumes.

Thanksgiving week stock market history: the key numbers

S&P 500, 1950–2025 (76 years)SessionsYears upShare upAverageMedianBestWorst
Thanksgiving week45369.7%+0.71%+0.87%+12.03% (2008)−4.69% (2011)
Wednesday + Black Friday26484.2%+0.61%+0.59%+4.53% (2008)−2.47% (2011)
Wednesday before Thanksgiving15876.3%+0.33%+0.30%+3.53% (2008)−2.21% (2011)
Black Friday15471.1%+0.28%+0.26%+1.78% (1971)−2.27% (2021)
Next Monday12938.2%−0.29%−0.20%+2.92% (2011)−8.93% (2008)

The comparison that gives these numbers meaning is an ordinary stretch of the same length. Over 1950–2025, any four consecutive sessions rose 56.5% of the time and averaged +0.15%; any two sessions rose 54.8% of the time (+0.07%); a single session rose 53.1% of the time (+0.04%).

Ordinary periods, 1950–2025Share upAverageMedian
Any 4 consecutive sessions56.5%+0.15%+0.26%
Any 2 consecutive sessions54.8%+0.07%+0.11%
Any single session53.1%+0.04%+0.05%
Any Monday49.5%−0.05%0.00%
Any Friday56.0%+0.07%+0.10%

By that yardstick the Wednesday + Black Friday pair stands out most: it has been positive in 84% of years, against 55% for an ordinary two-session period, with an average more than eight times larger. The full week has been positive about 70% of the time against 57% for any four sessions. The Monday after is the exception — it has failed to rise in 47 of 76 years, more often than an ordinary Monday.

Day by day: from Monday to the Monday after

SimianX AI Two bar charts of the S&P 500 day by day around Thanksgiving from 1950 to 2025, showing the share of up sessions and the average change for Monday, Tuesday, Wednesday, Black Friday and the following Monday
Two bar charts of the S&P 500 day by day around Thanksgiving from 1950 to 2025, showing the share of up sessions and the average change for Monday, Tuesday, Wednesday, Black Friday and the following Monday

Split into single sessions, the pattern is concentrated around the holiday itself:

  • Monday of Thanksgiving week: up 36 of 75 years (48.0%), average 0.00% — no different from an ordinary Monday. (The NYSE was closed on Monday, November 25, 1963, for President Kennedy's funeral.)
  • Tuesday: up 46 of 76 (60.5%), average +0.10%.
  • Wednesday before Thanksgiving: up 58 of 76 (76.3%), average +0.33%. Its best day was +3.53% in 2008 and its worst −2.21% in 2011.
  • Black Friday: up 54 of 76 (71.1%), average +0.28%. Its best day was +1.78% in 1971; its worst −2.27% in 2021, on the day the World Health Organization named the Omicron coronavirus variant.
  • The Monday after: up only 29 of 76 (38.2%), average −0.29%, including the largest move of any day in these windows, −8.93% on December 1, 2008.

Wednesday and Black Friday both closed higher in 41 of 76 years. Most of the week's average gain has come in those two sessions.

Every Thanksgiving week since 1950: the full table

SimianX AI Bar chart of the S&P 500's change during Thanksgiving week, Friday close to Black Friday close, for every year from 1950 to 2025, up in 53 of 76 years with an average of +0.71%
Bar chart of the S&P 500's change during Thanksgiving week, Friday close to Black Friday close, for every year from 1950 to 2025, up in 53 of 76 years with an average of +0.71%

Newest first. Weeks in which the S&P 500 fell (Friday-to-Black-Friday change of zero or less) are in bold. "December" is the S&P 500's change from the last November close to the last December close of the same year.

YearThanksgivingThanksgiving week (Fri to Fri)Wednesday + Black FridayNext MondayDecember
2025Nov 27+3.73%+1.23%−0.53%−0.05%
2024Nov 28+1.06%+0.18%+0.24%−2.50%
2023Nov 23+1.00%+0.47%−0.20%+4.42%
2022Nov 24+1.53%+0.56%−1.54%−5.90%
2021Nov 25−2.20%−2.05%+1.32%+4.36%
2020Nov 26+2.27%+0.08%−0.46%+3.71%
2019Nov 28+0.99%+0.01%−0.86%+2.86%
2018Nov 22−3.79%−0.35%+1.55%−9.18%
2017Nov 23+0.91%+0.13%−0.04%+0.98%
2016Nov 24+1.44%+0.47%−0.53%+1.82%
2015Nov 26+0.05%+0.05%−0.46%−1.75%
2014Nov 27+0.20%+0.03%−0.68%−0.42%
2013Nov 28+0.06%+0.17%−0.27%+2.36%
2012Nov 22+3.62%+1.54%−0.20%+0.71%
2011Nov 24−4.69%−2.47%+2.92%+0.85%
2010Nov 25−0.86%+0.73%−0.14%+6.53%
2009Nov 26+0.01%−1.28%+0.38%+1.78%
2008Nov 27+12.03%+4.53%−8.93%+0.78%
2007Nov 22−1.24%+0.07%−2.32%−0.86%
2006Nov 23−0.02%−0.13%−1.36%+1.26%
2005Nov 24+1.60%+0.56%−0.85%−0.10%
2004Nov 25+1.05%+0.49%−0.34%+3.25%
2003Nov 27+2.21%+0.41%+1.13%+5.08%
2002Nov 28+0.62%+2.52%−0.19%−6.03%
2001Nov 22+1.03%+0.67%+0.62%+0.76%
2000Nov 23−1.90%−0.41%+0.54%+0.41%
1999Nov 25−0.38%+0.85%−0.62%+5.78%
1998Nov 26+2.47%+0.79%−2.41%+5.64%
1997Nov 27−0.80%+0.48%+2.03%+1.57%
1996Nov 28+1.11%+0.14%−0.06%−2.15%
1995Nov 23−0.02%−0.04%+0.23%+1.74%
1994Nov 24−1.99%+0.49%+0.41%+1.23%
1993Nov 25+0.10%+0.44%−0.25%+1.01%
1992Nov 26+0.82%+0.60%+0.28%+1.01%
1991Nov 28−0.24%−0.72%+1.65%+11.16%
1990Nov 22−0.64%−0.07%+0.45%+2.48%
1989Nov 23+0.69%+1.29%+0.48%+2.14%
1988Nov 24+0.29%+0.01%+0.53%+1.47%
1987Nov 26−0.69%−2.46%−4.18%+7.29%
1986Nov 27+1.37%+0.42%−0.07%−2.83%
1985Nov 28+0.32%+0.75%−0.85%+4.51%
1984Nov 22+1.72%+1.67%−0.82%+2.24%
1983Nov 24+1.27%+0.20%−0.38%−0.88%
1982Nov 25−1.56%+1.47%−0.50%+1.52%
1981Nov 26+2.78%+1.28%+1.01%−3.01%
1980Nov 27+1.01%+0.85%−2.36%−3.39%
1979Nov 22+0.85%+0.95%+2.03%+1.68%
1978Nov 23+1.45%+0.82%+0.21%+1.49%
1977Nov 24+1.43%+0.62%−0.67%+0.28%
1976Nov 25+1.21%+1.17%−0.69%+5.25%
1975Nov 27+1.91%+0.58%−0.62%−1.15%
1974Nov 28+1.55%+0.72%−2.66%−2.02%
1973Nov 22−4.27%+0.79%−2.88%+1.66%
1972Nov 23+1.54%+0.91%−0.47%+1.18%
1971Nov 25+0.36%+1.97%+1.60%+8.62%
1970Nov 26+2.64%+1.36%+1.48%+5.68%
1969³Nov 27−0.54%+0.94%−0.63%−1.87%
1968²Nov 28+1.95%+1.03%−0.23%−4.16%
1967Nov 23+1.16%+0.86%+0.29%+2.63%
1966Nov 24−0.50%+1.48%−0.17%−0.15%
1965Nov 25−0.23%+0.27%−0.25%+0.90%
1964Nov 26−1.30%−0.66%−0.87%+0.39%
1963¹Nov 28+5.20%+1.17%+0.59%+2.44%
1962Nov 22+2.29%+1.80%−0.29%+1.35%
1961Nov 23+0.31%+0.08%+0.01%+0.32%
1960Nov 24+0.56%+0.74%−0.18%+4.63%
1959Nov 26+1.28%+0.61%+1.01%+2.76%
1958Nov 27−0.42%+2.86%+0.40%+5.20%
1957Nov 28+2.08%+4.07%−0.86%−4.15%
1956Nov 22−1.31%+0.56%−0.60%+3.53%
1955Nov 24+0.31%+0.04%−0.66%−0.07%
1954Nov 25+3.29%+1.53%−0.03%+5.08%
1953Nov 26+0.90%+0.65%+0.41%+0.20%
1952Nov 27+1.54%+1.18%+0.08%+3.55%
1951Nov 22−1.84%−1.23%+0.13%+3.89%
1950Nov 23+2.32%+2.21%−0.69%+4.72%

¹ 1963: Monday, November 25 was a market holiday for President Kennedy's funeral, so Thanksgiving week had three sessions. ² 1968: the NYSE closed on Wednesdays from June to December 1968 to clear a paperwork backlog, but it opened on Wednesday, November 27 because Thursday was a holiday. ³ 1969: CNBC has no bar for Monday, December 1, 1969; that day's close (93.22) is from Yahoo Finance only. Until 1952 the NYSE also traded on some Saturdays; counting the Saturday sessions, the 1950 week would show +1.80% instead of +2.32% and the 1951 week −1.93% instead of −1.84% (the Next Monday figures would be −0.49% and +0.58%). No sign changes in any window.

Thanksgiving week by decade

DecadeThanksgiving week: years upAverageWednesday + Black Friday: years upAverageNext Monday: years upAverage
1950s7 of 10+0.81%9 of 10+1.25%5 of 10−0.08%
1960s6 of 10+0.89%9 of 10+0.77%3 of 10−0.17%
1970s9 of 10+0.87%10 of 10+0.99%4 of 10−0.27%
1980s8 of 10+0.72%9 of 10+0.55%3 of 10−0.71%
1990s4 of 10+0.04%7 of 10+0.30%6 of 10+0.17%
2000s7 of 10+1.54%7 of 10+0.74%4 of 10−1.13%
2010s7 of 10−0.21%8 of 10+0.03%2 of 10+0.13%
2020–20255 of 6+1.23%5 of 6+0.08%2 of 6−0.19%

The Wednesday + Black Friday pair rose in every year from 1965 to 1986 — 22 years in a row — and averaged +0.77% from 1950 to 1999. Since 2000 its hit rate has fallen to 77% (20 of 26) and its average to +0.32%, while the full week has held up: 19 of 26 weeks since 2000 rose (73%), averaging +0.80%. In the ten years from 2016 to 2025, eight Thanksgiving weeks rose, including the last four (2022–2025). The 2000s average is lifted by a single year, 2008.

The best and worst Thanksgiving weeks

RankBest weeksS&P 500 changeWorst weeksS&P 500 change
12008+12.03%2011−4.69%
21963+5.20%1973−4.27%
32025+3.73%2018−3.79%
42012+3.62%2021−2.20%
51954+3.29%1994−1.99%
61981+2.78%2000−1.90%
  • 2008 (+12.03%). The week began the day after the US government announced a rescue package for Citigroup on November 23, 2008, during the financial crisis. The gain was followed by a −8.93% Monday on December 1, 2008, the day the National Bureau of Economic Research announced that a recession had begun in December 2007.
  • 1963 (+5.20%). The week after President Kennedy's assassination on Friday, November 22; the market closed for the funeral on Monday, then gained 3.98% on Tuesday, November 26.
  • 2011 (−4.69%) and 1973 (−4.27%). Both fell during broader declines: the 1973 week came during the 1973–74 bear market (listed in every S&P 500 bear market since 1929).
  • 2018 (−3.79%). The week fell inside the fourth-quarter 2018 decline; December 2018 then lost 9.18%, the worst December in this table.

Large weeks in either direction have mostly come during periods of market stress, when every session moved more than usual. In 30 of the 76 years, the week moved less than 1% in either direction.

The Monday after Thanksgiving ("Cyber Monday")

The session after Black Friday has been the weakest part of the holiday period. From 1950 to 2025 it rose in 29 of 76 years (38.2%), averaged −0.29% and had a median of −0.20%. Since 2000 it has risen in only 8 of 26 years (31%). Its largest declines came in 2008 (−8.93%), 1987 (−4.18%), 1973 (−2.88%), 1974 (−2.66%) and 1998 (−2.41%); its largest gains in 2011 (+2.92%), 1979 and 1997 (+2.03% each).

A positive Black Friday did not carry over: after an up Black Friday the next Monday rose 37% of the time, after a down Black Friday 41%. One explanation offered for the weakness is that the holiday sessions run on thin volume, so a return to full participation on Monday can undo part of the move. In 2026 the Monday after Thanksgiving, November 30, is also the last trading day of November.

Does Thanksgiving week predict December?

SimianX AI Two bar charts comparing December S&P 500 returns after up and down Thanksgiving weeks, 1950 to 2025
Two bar charts comparing December S&P 500 returns after up and down Thanksgiving weeks, 1950 to 2025
After the holiday week…YearsDecember upAverage DecemberBlack Friday close to year-end: upAverage
Thanksgiving week up5336 (68%)+1.09%33 (62%)+0.99%
Thanksgiving week down2319 (83%)+2.16%17 (74%)+2.50%
All years7655 (72%)+1.41%50 (66%)+1.45%

December has been one of the stronger months for the S&P 500 (see our S&P 500 seasonality study), and the holiday week has not reliably signalled which way it would go. If anything the relationship has run backwards: after the 23 down Thanksgiving weeks, December rose 19 times and averaged +2.16%, compared with 36 of 53 and +1.09% after up weeks. After the 12 years when the Wednesday + Black Friday pair fell, December rose 11 times. With samples this small, a single year moves the averages — 1987, a down Thanksgiving week followed by a 7.29% December gain, is one of them — so the reverse pattern is better read as "no signal" than as a rule.

The end of December has its own pattern, covered in our Santa Claus rally history: the last five trading days of the year and the first two of January, a window that begins on December 24 in 2026.

Why the holiday week has tended to rise

There is no single accepted explanation. The ones most often cited are:

  1. Light volume and fewer sellers. Many institutional traders are away on Wednesday and Friday, and a modest amount of buying can move prices in thin trading.
  2. Holiday optimism and consumer headlines. Black Friday and Cyber Monday sales figures dominate the news, and retail-spending stories are usually framed around record totals.
  3. Seasonal flows. The holiday falls at the start of the November–January stretch, which has had the highest average three-month return for the S&P 500 since 1950 (+4.4%, by our calculation from the same daily data).
  4. Positioning before December. Some investors add exposure ahead of year-end, when portfolio rebalancing and tax decisions concentrate.

None of these explains the weakness of the following Monday or the smaller Wednesday + Black Friday edge since 2000. A pattern that is published every year is easy to anticipate, which tends to shrink it.

How to use Thanksgiving week data

The holiday week has a historical edge of about half a percentage point over an ordinary four-session period, a 30% failure rate, and a weaker following Monday. It describes the past behaviour of the index, not a trading signal. A practical way to use it is as context: a quiet, rising holiday week is in line with history, a falling one has happened in 23 of 76 years, and neither has said much about December.

If you follow the market around the holiday, SimianX's live multi-agent analysis can run on SPY, the S&P 500 ETF, and Market Pulse scores the news that moves the index during the short sessions. Calendar-year results are in our S&P 500 returns by year table and the Nasdaq equivalent in our Nasdaq returns by year table. All of our market-history reference pages are collected on the market history topic hub.

Frequently asked questions

Is the stock market open on Black Friday?

Yes, with an early close. On Black Friday, November 27, 2026, the NYSE and Nasdaq close at 1:00 p.m. ET (1:15 p.m. for eligible options), and SIFMA recommends a 2:00 p.m. ET close for the bond market. The market is closed on Thanksgiving Day, Thursday, November 26.

Is the stock market open on Thanksgiving?

No. Thanksgiving Day is a full market holiday for the NYSE and Nasdaq. In 2026 that is Thursday, November 26; in 2027 it is Thursday, November 25.

Does the stock market go up during Thanksgiving week?

Usually, but not always. From 1950 to 2025 the S&P 500 rose from the Friday before Thanksgiving to Black Friday in 53 of 76 years (69.7%), with an average gain of 0.71% and a median of 0.87%. It fell in 23 years, most recently in 2021.

How does the stock market do on Black Friday?

The S&P 500 rose on Black Friday in 54 of 76 years from 1950 to 2025, with an average gain of 0.28%. The best Black Friday was +1.78% in 1971 and the worst −2.27% in 2021.

What is the Thanksgiving trade in stocks?

It refers to the Wednesday before and the Friday after Thanksgiving taken together, a pairing tracked by the Stock Trader's Almanac. Measured from the Tuesday close to the Black Friday close, the S&P 500 rose in 64 of 76 years (84.2%) from 1950 to 2025, averaging +0.61%.

How does the stock market do on the Monday after Thanksgiving?

It has been weaker than average. The S&P 500 rose on the Monday after Thanksgiving in only 29 of 76 years (38.2%), with an average change of −0.29%. The worst was −8.93% on December 1, 2008.

Does a good Thanksgiving week mean a good December?

Not on the evidence. December rose in 68% of years after an up Thanksgiving week and in 83% after a down one, with average gains of 1.09% and 2.16%. The samples are small, so neither figure is a forecast.

What time does the stock market close the day after Thanksgiving?

At 1:00 p.m. ET for NYSE and Nasdaq stocks. The NYSE calendar lists the same early close for Friday, November 27, 2026, Friday, November 26, 2027 and Friday, November 24, 2028.

Methodology and sources

  • Prices. S&P 500 daily closes (price index, dividends excluded) from Yahoo Finance (^GSPC), cross-checked against CNBC's independent index history (.SPX). Every window date matched in both sources except Monday, December 1, 1969 (footnoted); one other daily close, November 24, 1958, differs between the vendors and affects no window figure.
  • Windows. Thanksgiving week = Friday close before Thanksgiving to Black Friday close; Wednesday + Black Friday = Tuesday close to Black Friday close; Next Monday = Black Friday close to the following Monday close. Thanksgiving is the fourth Thursday of November, as fixed by federal law since 1942.
  • December = last November close to last December close of the same year. Black Friday close to year-end = Black Friday close to the last December close.
  • Comparison base. All rolling one-, two- and four-session periods, all Mondays and all Fridays from January 1950 to December 2025.
  • Calendar. 2026–2028 holiday and early-close dates from the NYSE and Nasdaq published calendars; bond-market hours from SIFMA's recommendations.
  • Data compiled October 16, 2026. This page is for information only and is not investment advice.

Related Reading

References

Cite this page

SimianX. (2026, October 16). Thanksgiving Week Stock Market: S&P 500 Each Year Since 1950. Retrieved from https://www.simianx.ai/stories/thanksgiving-week-stock-market-sp-500-every-year-since-1950

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