Why is the Stock Market Closed for Good Friday?

I'll be frank, I find it a little curious.  And by frank, I mean straightforward or sincere, not Frank, the FSA.  But as I have mentioned on Frank's site, I'm not terribly religious.  I'm not even looking to bring religion or a religious debate into the discussion.  I'm really just curious if anyone knows.  Not growing up Christian, I had never even heard of Good Friday until after high school.  Oddly, growing up in America and not specifically another religion, our family celebrated Christmas by getting a tree, putting up lights and exchanging gifts.  We celebrated Easter by coloring eggs and going on Easter egg hunts.  As a child, I didn't even think of these as religious holidays.

The other NYSE holidays are rather expected, New Year's, MLK, Washington's, Memorial Day, 4th of July, Labor Day, Thanksgiving and Christmas.  All Federal holidays.

So, why Good Friday?  Why don't we call it closed for Easter, observed.

Anyway, I gave up candy, cookies, chips and soda for Lent.  Can't wait for Sunday!

Comments

[Laws Finance]

Out of curiosity, why do you give something up for Lent? Is this just another religious inroad into modern American society. To me, it seems very similar to how you celebrate Christmas and Easter, but not for the religious reasons.

[mapgirl]

Technically it was over on Maundy Thursday, but I usually wait till Easter Sunday too.

[Matt]

I have no idea why it is closed on Good Friday. Our country was built primarily to ensure our religious freedoms so I guess this infected our society to the point where we recognize Good Friday, Thanksgiving, and Christmas as major holiday's (holy days). Now that we have many people (me included) growing up not being taught the real meanings behind these "days off", it's confusing. Since most of our society is not strongly religious any longer I would think that soon Good Friday will find the pit open for business.

[Brian]

The market is closed on Good Friday because of the large contingent of Irish Catholic stock brokers that were spooked by a sell off in the market the last time it was open on Good friday. The "panic of 1907" led to the markets closure on Good Friday ever since. This was told to me by a senior manager when i started in the investment business. I have never been able to validate the claim

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[John B]

Judas sold out Christ for a few pieces of silver on the Friday Christ was crucified. Beacause of this it is not Christain to do financial transactions on Good Friday.

[TK]

"it is not Christian to do financial transactions on Good Friday" - If this is the case, shouldn't all monetary transactions come to a stand still for the day, any spending by anyone, anywhere? It is only Christian to impose beliefs on everyone and expect that because something is Christian, it is the only way. If trading stops for Christian reasons ALL spending should stop. If that doesn't happen the markets shouldn't be closed for religious reasons. It is UN-AMERICAN!

[John Y]

"...the markets shouldn't be closed for religious reasons. It is UN-AMERICAN!"

Wow, it is that kind of ignorance that gets us in so much trouble around the world. If a non-government entity, whether public or private, wants to close for a day regardless of reason, they have the right and freedom to do so, who are you to say that the reason makes a difference. This is what we fought for over 200 years ago...Grow Up!