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On November 28 (Thursday), the US stock market is closed for one day due to the Thanksgiving holiday in the USA. The trading of Brent crude oil futures contracts under Intercontinental Exchange (ICE) ends at 02:30 Beijing time the next day, while the trading of precious metals and US crude oil contracts under CME Group ends at 03:30 Beijing time the following day. Trading in the US bond market under CME is closed for one day.
On November 29 (Friday), the day after Thanksgiving, the US stock market will close 3 hours earlier, i.e., at 02:00 Beijing time the next day. The trading of Brent crude oil futures contracts under Intercontinental Exchange (ICE) ends at 03:00 Beijing time the next day, while the trading of precious metals and US crude oil contracts under CME Group ends at 02:45 Beijing time the following day. Trading in the US bond market under CME ends at 03:30 the next day.
Thanksgiving is a public holiday shared by the USA and Canada, but it is not celebrated on the same day. The original purpose of Thanksgiving was to give thanks for a good harvest or good fortune. In the USA, Thanksgiving has been celebrated on the fourth Thursday of November every year since 1941. Similar to the Chinese Spring Festival, on this day, many Americans, no matter how busy, find ways to reunite with their families. Canadian Thanksgiving started in 1879 and is celebrated on the second Monday of October each year, which coincides with Columbus Day in the USA.
The Friday after Thanksgiving is known as 'Black Friday,' where the US stock market closes 3 hours earlier, forming a small tradition. This day is typically considered the official start of the year-end shopping season and is a key performance indicator for the retail trade's Christmas sales season. It is also one of the most important and busiest days of the year for businesses.