The fourth week of November is the busiest consumer retail and travel week in the United States, but for financial markets, corporate payroll teams, and banking customers, it is defined by a split two-day schedule across Thanksgiving Day (Thursday, November 26, 2026) and Black Friday (Friday, November 27, 2026).
While Thursday, November 26 is a federal statutory holiday that shuts down the entire US banking system, Wall Street, and postal delivery, Friday, November 27 (Black Friday) is NOT a federal holiday. On that Friday, a unique operational divide takes place: the Federal Reserve (Fedwire and Nacha ACH), commercial bank branches, and the U.S. Postal Service reopen for full normal business hours, yet the New York Stock Exchange (NYSE) and Nasdaq close three hours early at 1:00 PM ET, the US bond market (SIFMA) closes early at 2:00 PM ET, and more than twenty US states close their state government offices and DMVs for a statutory state holiday.
Whether you are trading equities or options on Black Friday morning, scheduling a biweekly Friday payroll run that collides with Thursday's ACH halt, or tracking holiday e-commerce packages across USPS, UPS, and FedEx, below is the verified 2026 operational guide.
1. Master Operational Schedule: Nov 25, Nov 26 (Thanksgiving) & Nov 27 (Black Friday)
Under 5 U.S.C. Section 6103(a), the fourth Thursday in November (Thursday, November 26, 2026) is a federal legal public holiday, whereas the day after Thanksgiving (Friday, November 27, 2026) is a normal federal banking and postal workday. You can check the complete 2026 and 2027 national schedule on our United States Public Holidays Hub or verify individual sector schedules in our What Stays Open? Holiday Checker.
Use this master table to verify exact operating hours across banks, payment rails, stock and bond markets, postal carriers, and government offices from Wednesday, November 25 through Friday, November 27, 2026:
| Institution / Sector | Wed, Nov 25, 2026 (Thanksgiving Eve) | Thu, Nov 26, 2026 (Thanksgiving Day) | Fri, Nov 27, 2026 (Black Friday) | Operational & Cutoff Notes |
|---|---|---|---|---|
| US Stock Markets (NYSE & Nasdaq) | OPEN FULL DAY (9:30 AM - 4:00 PM ET) | CLOSED ALL DAY | EARLY CLOSE at 1:00 PM ET (1:15 PM ET for eligible options) | No early close on Wednesday, Nov 25; Black Friday afternoon after-hours session ends at 5:00 PM ET. |
| US Bond Market (SIFMA Fixed Income) | OPEN FULL DAY (No early close on Wed) | CLOSED ALL DAY | EARLY CLOSE at 2:00 PM ET | SIFMA recommends a full day on Wed, Nov 25, a full close on Thu, Nov 26, and a 2:00 PM ET close on Fri, Nov 27. |
| Federal Reserve Rails (Fedwire & Nacha ACH) | OPEN FULL DAY (Normal wire & ACH settlement) | CLOSED ALL DAY | OPEN FULL DAY (Normal Friday settlement) | Fedwire and ACH run full schedules on Black Friday; 24/7 FedNow and RTP run all weekend. |
| US Commercial Banks (Chase, BofA, Wells Fargo, Citi, PNC) | OPEN (Normal Wednesday branch hours) | CLOSED (ATMs & mobile banking active) | OPEN (Normal Friday branch & wire hours) | Retail bank lobbies and drive-thrus reopen nationwide on Friday, Nov 27. |
| Federal vs. State Government Offices & DMVs | OPEN (Some state agencies close 1-2 hours early) | CLOSED NATIONWIDE | Federal: OPEN State DMVs/Courts: CLOSED in 22+ States | Over 20 states (including CA, TX, FL, IL, PA, WA) declare Friday, Nov 27 an official state holiday. |
| United States Postal Service (USPS) | OPEN (Normal mail & package delivery) | CLOSED (Priority Mail Express only) | OPEN (Full regular mail & parcel delivery) | Post offices open and mail carriers run normal routes on Black Friday, Nov 27. |
| UPS & FedEx | OPEN (Normal pickup & delivery) | CLOSED (Express Critical / Custom Critical only) | OPEN (UPS open full service; FedEx modified/normal delivery) | Both UPS Store and FedEx Office locations reopen on Friday, Nov 27. |
| Major Retailers & Supermarkets | OPEN (Extended pre-Thanksgiving grocery hours) | CLOSED: Walmart, Target, Costco, Best Buy, Aldi, Trader Joe's, Publix | OPEN EARLY (Doorbuster Black Friday hours from 5:00/6:00 AM) | Select grocery chains (Kroger, Safeway, Albertsons, Whole Foods) open reduced morning hours on Thu, Nov 26. |
2. Stock & Bond Market Hours on Black Friday: The 1:00 PM & 2:00 PM ET Early Closes
One of the most frequent questions traders ask during Thanksgiving week is whether Wall Street closes early on the Wednesday before Thanksgiving (Wednesday, November 25, 2026). Unlike the day before Independence Day or Christmas Eve, neither the US stock market nor the US bond market closes early on the Wednesday before Thanksgiving. Both NYSE/Nasdaq and SIFMA bond desks trade a complete regular session on Wednesday, November 25, 2026.
Instead, the shortened trading session takes place on Black Friday (Friday, November 27, 2026), when institutional trading desks operate on skeleton crews:
- NYSE & Nasdaq Equity Schedule on Friday, November 27, 2026:
- Pre-Market Session: Opens at its normal time (4:00 AM ET on Nasdaq and NYSE Arca) and runs until 9:30 AM ET.
- Regular Core Trading Session: Opens at 9:30 AM ET and closes three hours early at 1:00 PM ET across the New York Stock Exchange, Nasdaq, NYSE American, NYSE Arca, and Cboe US Equities.
- Weekly & Index Options (1:15 PM ET Cutoff): While standard single-stock equity options stop trading at 1:00 PM ET alongside the underlying stocks, eligible broad-based index options (such as SPX, NDX, RUT, and VIX options) and select ETF options continue trading for an additional fifteen minutes until 1:15 PM ET.
- Shortened After-Hours Session: On 1:00 PM ET early-close days, Nasdaq and NYSE Arca late trading sessions begin immediately at 1:00 PM ET and end at 5:00 PM ET (three hours earlier than the usual 8:00 PM ET extended-hours cutoff).
- Crossing Session Orders & Market-Wide Circuit Breakers: NYSE Closing Auction order entry cutoffs shift three hours earlier (from 3:50 PM ET to 12:50 PM ET for Market-on-Close [MOC] and Limit-on-Close [LOC] orders). Market-wide Level 1 (7%) and Level 2 (13%) circuit breaker halts apply between 9:30 AM ET and 12:25 PM ET.
- US Bond Market (SIFMA) Schedule on Friday, November 27, 2026:
- Following the official SIFMA 2026 Holiday Schedule, secondary trading in US dollar-denominated government securities (US Treasuries), agency debt, municipal bonds, and mortgage-backed securities (MBS) closes completely on Thursday, November 26, and closes early at 2:00 PM ET on Friday, November 27, 2026 (one hour after the stock market closes).
- CME Group Futures (Globex) on Nov 26 & Nov 27:
- On Thursday, November 26 (Thanksgiving), CME Globex US equity index futures (E-mini S&P 500, Nasdaq-100), interest rate futures, energy, and metals halt at 1:00 PM ET (12:00 PM CT) on Thursday afternoon before reopening at 6:00 PM ET Thursday evening.
- On Friday, November 27 (Black Friday), CME Globex equity index, Treasury, and commodity futures close early at 1:15 PM ET (12:15 PM CT) or 1:45 PM ET depending on the contract specification.
3. T+1 Stock Settlement Across Thanksgiving: When Do Nov 25 & Nov 27 Trades Settle?
Unlike Veterans Day (Wednesday, November 11, 2026), when stock exchanges stay open while banks close, Thanksgiving week keeps stock exchanges and clearing banks aligned on which days are open:
- Trades Executed on Wednesday, November 25, 2026: Because Thursday, November 26 is a federal holiday for both the stock market and the Federal Reserve/DTCC, Thursday does not count as a business day. Under SEC Rule 15c6-1 (T+1 settlement), equity, ETF, and corporate bond trades executed on Wednesday, November 25 settle on Friday, November 27, 2026 (Black Friday).
- Does Black Friday's 1:00 PM Early Close Delay Settlement? No. Even though the NYSE and Nasdaq close their trading floors early at 1:00 PM ET on Friday, November 27, both the Depository Trust & Clearing Corporation (DTCC) and the Federal Reserve (Fedwire) remain open for a full settlement business day on Friday, November 27. Therefore, Wednesday's trades settle cleanly on Friday morning, and cash proceeds are available for withdrawal via ACH or Fedwire that same Friday.
- Trades Executed on Black Friday (Friday, November 27, 2026): Any stock or option trade executed during the 9:30 AM to 1:00 PM ET shortened session on Friday, November 27 settles on the next business day, which is Monday, November 30, 2026 (Cyber Monday).
4. Are Banks Open on Black Friday? Fedwire, Nacha ACH & Friday Payroll Cutoffs
Because so many corporate offices close for a four-day Thanksgiving weekend, many people assume banks also close on Black Friday. In fact, Friday, November 27, 2026 is a normal, full-service banking day across the United States. You can simulate exact domestic and cross-border wire value dates in our Cross-Border Wire & Settlement Simulator and check payroll submission deadlines in our Global Payday & Payroll Cutoff Calculator.
- Physical Bank Branches Are Open on Friday, November 27: Retail branches of JPMorgan Chase, Bank of America, Wells Fargo, Citibank, U.S. Bank, PNC, Capital One, TD Bank, and Truist are closed on Thursday, November 26 and open on Friday, November 27, 2026 (though branches located inside shopping malls or corporate office towers may adjust local lobby hours).
- Fedwire & Nacha ACH Run Normal Friday Schedules on Nov 27: According to the Federal Reserve Financial Services Holiday Schedule, the Federal Reserve is closed on Thursday, November 26 and open for normal operations on Friday, November 27. Both Fedwire Funds (open until 7:00 PM ET interbank; ~4:00 to 5:00 PM ET for retail client wires) and all Nacha ACH batch and Same-Day ACH clearing windows process normally on Black Friday.
- The Thanksgiving Payroll Trap (Thursday, Nov 26 vs. Friday, Nov 27 Paydays):
- If Your Regular Payday Is Thursday, November 26, 2026: Because ACH cannot settle on Thanksgiving Day, employers must advance Thursday paydays by one business day to Wednesday, November 25, 2026. Under standard `T-2` ACH processing rules, payroll teams must approve and transmit that payroll file by Monday, November 23, 2026.
- If Your Regular Payday Is Friday, November 27, 2026 (Black Friday): Because Friday, November 27 is a valid ACH banking day, employee direct deposits scheduled for Friday, November 27 can settle on Friday morning. However, because Thursday, November 26 is a non-processing bank holiday, Thursday does not count toward your `T-2` processing window! To ensure Friday, November 27 paychecks land on time, HR and payroll administrators must submit the ACH batch file no later than Tuesday, November 24, 2026 (or before midday on Wednesday, November 25 if using a 1-day expedited payroll provider).
5. Why Black Friday Is a State Government Holiday in Over 20 US States
Even though the federal government and the Federal Reserve stay open on Friday, November 27, 2026, more than twenty US states designate the Friday after Thanksgiving as an official state public holiday (under various statutory names). In these states, state government offices, state courts, and Department of Motor Vehicles (DMV / BMV / MVD) offices are closed on both Thursday, November 26 and Friday, November 27, 2026, creating a four-day state government shutdown:
| Official State Statutory Name for Friday, Nov 27, 2026 | US States Observing the State Holiday (Offices & DMVs Closed) | What Closes vs. What Stays Open in These States |
|---|---|---|
| Day After Thanksgiving / Friday After Thanksgiving | California, Delaware, Florida, Illinois, Iowa, Kansas, Kentucky, Maine, Michigan, Minnesota, Nebraska, New Hampshire, North Carolina, Oklahoma, Pennsylvania, South Carolina, Texas, Washington, West Virginia | State agencies, state courts, DMVs, and public schools/universities are CLOSED; banks, post offices, and retail stores remain OPEN. |
| American Indian Heritage Day / Native American Heritage Day | Maryland (and observed alongside Day After Thanksgiving in Washington & select states) | Maryland state government offices, state courts, and MVA branches are CLOSED on Friday, Nov 27. |
| Family Day | Nevada (NRS 236.015 designates the Friday after Thanksgiving as Family Day) | All Nevada state, county, and municipal offices and DMV branches are CLOSED on Friday, Nov 27. |
| Lincoln's Birthday / Presidents' Day Observance | Indiana (observes Lincoln's Birthday on the Friday after Thanksgiving) & New Mexico (observes Presidents' Day on the Friday after Thanksgiving) | Indiana BMV/state offices and New Mexico MVD/state courts shift their February holiday to Friday, Nov 27, 2026. |
| Acadian Day & State Holiday Observance | Louisiana (proclaimed annually by the Governor) & Georgia (observes a designated state holiday on the Friday after Thanksgiving, shifted from January) | Louisiana OMV and Georgia DDS/state government offices are CLOSED on Friday, Nov 27. |
| States Where State Offices Stay OPEN on Friday, Nov 27 | New York, Massachusetts, New Jersey, Connecticut, Ohio, Missouri, Utah, Idaho, North Dakota, Rhode Island (Note: county DMV hours vary) | In New York and Massachusetts, Black Friday is not a state holiday, so state offices and NY DMV locations open on Friday, Nov 27. |
6. Mail, Couriers & Retail: USPS, UPS, FedEx, Walmart, Costco & Grocery Hours
Because Thanksgiving weekend kicks off the peak holiday shipping and shopping season, knowing the difference between Thursday's closures and Friday's reopenings saves wasted trips:
- United States Postal Service (USPS):
- Thursday, November 26 (Thanksgiving Day): All USPS Post Offices are CLOSED, and there is no regular residential or commercial mail delivery (only Priority Mail Express is delivered).
- Friday, November 27 (Black Friday): USPS is 100% OPEN. Post Office retail counters open for normal Friday hours, and regular residential and business mail and packages are delivered across all 50 states.
- UPS (United Parcel Service):
- Thursday, November 26: CLOSED (No UPS Ground, Air, or international pickup or delivery; UPS Express Critical remains available).
- Friday, November 27 (Black Friday): OPEN. According to the official UPS 2026 Year-End Holiday Schedule, normal UPS pickup and delivery service operates across all domestic air and ground packages on Black Friday, and The UPS Store locations are open.
- FedEx:
- Thursday, November 26: CLOSED (Only FedEx Custom Critical operates).
- Friday, November 27 (Black Friday): OPEN across FedEx Express, FedEx Ground, and FedEx Home Delivery (with early on-call pickups and modified hours at select FedEx Freight and FedEx Office locations).
- Retail Stores & Supermarkets on Thanksgiving Day vs. Black Friday:
- Closed All Day on Thursday, November 26: Over the past several years, major big-box chains permanently ended Thursday evening 'Gray Thursday' openings. On Thursday, November 26, 2026, Walmart, Target, Costco, Sam's Club, Best Buy, Home Depot, Lowe's, Kohl's, Macy's, Nordstrom, Trader Joe's, Aldi, and Publix are 100% CLOSED all day.
- Open Reduced Hours on Thursday, November 26: For last-minute Thanksgiving dinner ingredients or prescriptions, Whole Foods Market (typically 7:00 AM to 1:00/3:00 PM), Kroger / Ralphs / Fred Meyer / Harris Teeter (typically closing between 2:00 PM and 5:00 PM), Safeway / Albertsons / Vons, Dollar General, CVS, and Walgreens (24-hour pharmacy locations stay open; standard pharmacies close early) remain open.
- Friday, November 27 (Black Friday): Every major retailer reopens early on Friday morning (typically 5:00 AM or 6:00 AM local time for Walmart, Target, Best Buy, Macy's, Kohl's, Home Depot, and Lowe's, and 8:30 AM or 9:00 AM for Costco). Check holiday public transit schedules in our Public Transit & Rail Holiday Schedule Matrix.
7. International Markets (Canada, UK & Europe) & the 4-Day Thanksgiving Leave Strategy
Because US Thanksgiving is strictly an American holiday (Canada celebrates its Thanksgiving six weeks earlier on the second Monday in October), cross-border operations and FX settlement desks must plan around a one-country pause on November 26 and 27. You can compare multi-country schedules in our Multi-Country Holiday Overlap Finder and calculate November business days in our Working Days & Net Business Time Calculator.
- Canada, UK, Eurozone & Asia Are 100% Open on Nov 26 & Nov 27: On both Thursday, November 26 and Friday, November 27, 2026, banks, central bank wire rails, and stock exchanges in Canada (TSX & Payments Canada Lynx), the United Kingdom (LSE & CHAPS), the Eurozone (Frankfurt Xetra, Euronext & TARGET2/SEPA), and Australia (ASX) operate normal full-day sessions (note that in Japan, Monday, November 23, 2026 is a bank and Tokyo Stock Exchange holiday for Labor Thanksgiving Day).
- Cross-Currency USD Wire & FX Settlement Impact: Because US Fedwire (USD) is closed on Thursday, November 26, 2026, no international foreign exchange spot trade involving US Dollars (such as EUR/USD, GBP/USD, or USD/CAD) can settle on Thursday, November 26, even though European, British, and Canadian banks are open! Normal USD cross-border settlement resumes on Friday, November 27, 2026 because Fedwire is open full hours on Black Friday.
- The 4-for-9 Thanksgiving Week PTO Bridge (Nov 21 to Nov 29, 2026):
- At companies where both Thursday, November 26 and Friday, November 27 are paid company holidays, workers already get a built-in 4-day weekend (Nov 26 to Nov 29) using zero PTO. By booking 3 PTO days (Monday, Nov 23 to Wednesday, Nov 25), you unlock a continuous 9-day vacation from Saturday, November 21 through Sunday, November 29, 2026 (3.0x Return-on-PTO).
- At companies where only Thursday, November 26 is a paid holiday, booking 1 PTO day on Friday, November 27 gives you a 4-day weekend (4.0x ROI), or booking 4 PTO days (Nov 23, 24, 25, and 27) unlocks the full 9-day break. Test custom combinations in our 2026 & 2027 PTO Maximizer Tool.
8. Official Federal Reserve, Exchange & Statutory Verification Sources
Always verify live financial clearing cutoffs, options expiration notices, and courier service alerts on these official institutional portals:
- New York Stock Exchange (NYSE): Official 2026 & 2027 Trading Hours & Early Close Calendar
- Nasdaq Stock Market: Official 2026 Holiday & 1:00 PM ET Early Close Schedule
- SIFMA: Official 2026 US Fixed-Income & Treasury Bond Market Holiday Recommendations
- Federal Reserve Financial Services: Official 2026 Fedwire & Nacha ACH Holiday Schedule
- United States Postal Service (USPS): Official 2026 Postal Holidays & Delivery Schedule
- UPS Official 2026 Year-End Holiday Pickup & Delivery Schedule
Sources & Statutory Methodology
Federal holiday declarations, central bank wire schedules, and exchange early-close rules in this guide are verified against 5 U.S.C. Section 6103(a), the Federal Reserve System K.8 Holiday Schedule, NYSE Rule 7.2 and official Nasdaq trading calendars, the SIFMA 2026 Holiday Schedule for US dollar-denominated fixed-income securities, SEC Rule 15c6-1 (T+1 Settlement) and DTCC clearing rules, state government holiday statutes across all 50 US states, and published 2026 holiday schedules from USPS, UPS, and FedEx.