International

Remembrance Day signals subdued trading activity with strategic implications for investors

Wednesday, 12 November 2025 5:04AM UTC

Remembrance Day, observed on November 11th, not only commemorates military sacrifices but also leads to reduced trading volumes and heightened volatility in financial markets, prompting investors to adopt defensive strategies amid post-holiday shifts.

Remembrance Day, observed annually on November 11th, is a solemn occasion commemorating the end of World War I and honouring those who sacrificed their lives in military service. Beyond its cultural and historical significance, Remembrance Day also subtly influences financial markets, particularly in Canada where it is a statutory holiday. Historically, markets tend to reflect a period of subdued activity, as investors and traders prioritise remembrance over active trading. Data from the Toronto Stock Exchange reveals a consistent pattern of about 10% decline in trading volume on Remembrance Day compared to typical days, indicating reduced market participation.

This dip in market activity is part of a broader trend seen during commemorative holidays globally. Reduced trading volumes are common as many market participants take time off, and lower liquidity often brings about increased volatility. The week following Remembrance Day has also been noted for experiencing moderate volatility, as regular trading rhythms gradually resume. This post-holiday period is critical for investors, offering potential opportunities for strategic portfolio adjustments.

Investors frequently adopt particular strategies around such holidays. The “buy and hold” approach, for example, helps mitigate the risks associated with low liquidity by encouraging the retention of positions through temporary volatility. Defensive investing also gains prominence, with a focus on stocks that pay consistent dividends and exhibit stable earnings, providing steadier returns during quieter market intervals. Such strategies help investors navigate the unique market conditions fostered by national observances.

The impact of holidays on markets is not unique to Remembrance Day. Looking at other major holidays in North America reveals similar patterns. For instance, Memorial Day in the United States is associated with lower trading volumes and a “risk-on” sentiment leading up to the long weekend, often producing above-average returns on the Friday before the holiday. However, post-holiday returns tend to be more muted, and the market can exhibit heightened summer volatility due to increased retail investor participation and shifting macroeconomic factors. Thanksgiving week in the US also sees diminished trading volumes, sometimes 25-30% below average, leading to greater price swings on relatively small trades. Black Friday and the days surrounding Thanksgiving are marked by early market closures and lower liquidity, yet consumer spending surges, particularly online, reflecting different economic dynamics from the stock market’s activity.

Legal frameworks shape market behaviour too. In Canada, Remembrance Day’s status as a statutory holiday directly influences trading hours and schedules. Government announcements and economic data releases are sometimes timed around such holidays, which can introduce additional market shifts. Awareness of these legal and regulatory elements is crucial for investors to plan trades better and avoid unexpected disruptions.

Looking ahead to Remembrance Day in 2025, the market sentiment is cautiously optimistic. While the economic environment remains affected by global events, analysts suggest moderate activity with growth potential as various sectors stabilise post-holiday. Social media commentary reflects this blend of cautiousness and opportunity, with traders emphasising the importance of strategic patience and analysis based on historical holiday patterns.

Overall, understanding the nuanced impact of Remembrance Day on market behaviour provides investors a valuable lens through which to navigate these periods. By recognising the typical drops in trading volume, potential for post-holiday volatility, and the relevance of defensive and long-term investment strategies, market participants can align their activities to better manage risks and capitalise on opportunities during and after these reflective pauses in trading.

📌 Reference Map:

^[1] (Google News / CBC) - Paragraphs 1, 2, 3, 5, 6, 7
^[2] (Triumph Capital Management) - Paragraph 4
^[3] (Medium Contentworks) - Paragraph 4
^[4] (Nasdaq) - Paragraph 4
^[5] (The Firsty) - Paragraph 6
^[6] (Trade Ideas) - Paragraph 6
^[7] (Open Market Cap) - Paragraph 3

Source: Noah Wire Services

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https://www.triumphcapitalmanagement.com/blog/how-memorial-day-impacts-the-markets-a-historical-look-at-holiday-trends - This article examines how Memorial Day affects the stock market, noting that the day before Memorial Day often produces above-average returns for the S&P 500. Analysts attribute this pattern to reduced trading volume, investor optimism, and a general 'risk-on' sentiment as traders position themselves before the long weekend. From 1950 to 2023, the S&P 500 has posted gains on the Friday before Memorial Day more often than not, with positive returns in about 70% of those years. The article also discusses post-holiday returns, which can be more muted, and highlights that recent years have seen more summer volatility due to increased retail investor participation and evolving macroeconomic conditions. Specific sectors like consumer discretionary, energy, and retail are noted to gain attention around Memorial Day due to seasonal spending habits. The article concludes by advising long-term investors to consider seasonal trends as one piece of the investment puzzle.
https://contentworks.medium.com/how-thanksgiving-impacts-the-financial-markets-fd36497b7622 - This article explores the impact of Thanksgiving on financial markets, highlighting that the week is typically marked by positive momentum but also experiences reduced trading volumes. The U.S. markets close early on the Friday following Thanksgiving, resulting in less trading time, and many institutional investors and traders take time off, leading to lower-than-usual liquidity. Lower liquidity can lead to increased market volatility, as even relatively small trades can have a larger impact on stock prices. Historically, Thanksgiving week has consistently shown trading volumes that are 25–30% lower than average weekly volumes. In 2022, for example, the average daily trading volume on the NYSE during Thanksgiving week was around 3 billion shares, compared to a monthly average of 3.9 billion shares, indicating the impact of the holiday on trading behaviour.
https://www.nasdaq.com/articles/how-black-friday-and-thanksgiving-affect-the-stock-market - This article discusses how Thanksgiving and Black Friday affect the stock market. Thanksgiving is a trading holiday, with both the New York Stock Exchange and the Nasdaq closed. Black Friday is a half-day for the stock market, with both stock exchanges closing at 1:00 p.m. ET. Normal trading hours resume on the Monday after Thanksgiving, also known as Cyber Monday. Leading up to Thanksgiving, trading volume tends to decline, with the market typically delivering modest gains. From 2018 to 2022, the S&P 500 delivered an average return of 0.60% between the Monday before Thanksgiving and the Wednesday before Thanksgiving. After Thanksgiving, Black Friday tends to be a slow day for the market, with trading volumes at about 45% of their normal levels. The markets resume normal trading on Cyber Monday, and trading volume is often higher than usual, but the performance is slightly more muted, with a general decline of about 0.06%. The article also notes that during the five-day period between Thanksgiving and Cyber Monday, Americans spend billions online, with Cyber Monday having the highest total of consumer spending.
https://thefirsty.com/memorial-day-2025-market-closure-what-you-need-to-know/ - This article provides information on the impact of Memorial Day 2025 on trading hours. As a federally recognized holiday, Memorial Day triggers a complete suspension of operations across major U.S. stock exchanges, reshaping the market rhythm and requiring thoughtful planning around trading activity. On Memorial Day, all primary U.S. stock exchanges—including the New York Stock Exchange (NYSE) and NASDAQ—shut down entirely. This closure means no trading occurs from the market’s opening on Monday through the day, and the markets remain closed for the entire day and reopen with regular hours on Tuesday. The article also discusses historical trading patterns around Memorial Day, noting that traders often close positions or adjust strategies before the holiday, some investors may avoid major trades until the market reopens, price volatility may occur when the market opens after the holiday, and surprises from economic news can affect market reactions upon reopening.
https://www.trade-ideas.com/2025/05/16/the-memorial-day-effect-how-traders-can-navigate-the-holiday-weekend/ - This article discusses the 'Memorial Day Effect' and how traders can navigate the holiday weekend. The Memorial Day Effect refers to the distinctive trading patterns that historically emerge around the last Monday of May when U.S. markets close in observance of the holiday. The holiday significantly impacts trading volume, with the Friday before Memorial Day often becoming a 'getaway day' on Wall Street, leading to diminished volume and uninspired trading. This temporary lull creates unique opportunities for prepared investors as market dynamics shift. The article provides actionable Memorial Day trading tips for 2025, including pre-holiday positioning, managing positions during the long weekend, and post-holiday trading opportunities. It also discusses the impact of the 72-hour market closure over Memorial Day weekend, noting that it introduces unique risks for traders, particularly with positions in volatile sectors or leveraged instruments that could gap significantly on Tuesday’s open.
https://www.openmarketcap.com/timing-the-market/ - This article discusses market timing strategies, debates, and the impact of technology on investment decisions. It covers various investment strategies, including buy-and-hold investing, dollar-cost averaging, and asset allocation. Buy-and-hold investing is a long-term strategy that involves purchasing stocks or other securities and holding them for extended periods, regardless of short-term market fluctuations. This approach capitalizes on the historical upward trend of markets over time. Dollar-cost averaging is a technique where investors invest a fixed amount of money at regular intervals, regardless of market conditions, helping to reduce the impact of market volatility on investments. Asset allocation involves dividing an investment portfolio among different asset classes, such as stocks, bonds, and cash, based on risk tolerance and financial goals, helping to manage risk by diversifying investments across various sectors and asset types.

Noah Fact Check Pro

The draft above was created using the information available at the time the story first emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation.

Freshness check

Score: 8

Notes: The narrative presents recent data and analysis on Remembrance Day's impact on financial markets, with references to events up to November 2025. However, similar discussions have appeared in previous years, such as analyses from 2024 and 2025. ([meyka.com](https://meyka.com/blog/remembrance-day-market-impact-analyzing-historical-trends-and-current-insights-1211/?utm_source=openai)) The inclusion of updated data may justify a higher freshness score, but the recycled nature of the content warrants a slight reduction.

Quotes check

Score: 7

Notes: The narrative includes direct quotes, such as a Twitter user's comment: 'historical trends suggest opportunity post-holiday, if navigated with care.' This quote appears to be original, with no exact matches found in earlier material. However, the lack of verifiable sources for the quote raises concerns about its authenticity.

Source reliability

Score: 6

Notes: The narrative references various sources, including a Twitter user and articles from platforms like Medium and Nasdaq. The inclusion of a Twitter quote without clear attribution and reliance on less reputable platforms may indicate lower reliability. The absence of citations for some claims further diminishes the trustworthiness of the information presented.

Plausability check

Score: 7

Notes: The narrative discusses the impact of Remembrance Day on financial markets, noting reduced trading volumes and increased volatility. While these trends are plausible and have been observed in previous years, the lack of specific data and verifiable sources for some claims raises questions about the accuracy of the information presented.

Overall assessment

Verdict (FAIL, OPEN, PASS): FAIL

Confidence (LOW, MEDIUM, HIGH): MEDIUM

Summary: The narrative presents recycled content with limited originality and relies on unverifiable sources, including an unattributed Twitter quote. The absence of clear citations and the use of less reputable platforms diminish the overall reliability and credibility of the information. Given these factors, the assessment concludes with a 'FAIL' verdict and medium confidence in the evaluation.

Remembrance Day
Market Volatility
Canadian Markets