U.S. stock markets, including the Nasdaq and New York Stock Exchange, will be closed on Wednesday, Jan. 1, in observance of New Year's Day.

U.S. bond markets closed early on Tuesday, Dec. 31, with trading ending at 2 p.m. ET. Bond markets will remain closed on New Year's Day and resume operations on Thursday, Jan. 2.

The next scheduled market closure will be on Thursday, Jan. 9, as the nation observes a day of mourning following the passing of former President Jimmy Carter. Markets will remain closed for the day.

Most banks, following the Federal Reserve banking holidays, will close on New Year’s Day. 

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Various retailers, grocery stores, and pharmacies will be open on New Year’s Day, albeit with adjusted hours.

Albertsons Companies, encompassing ACME, Albertsons, Jewel-Osco, Randalls, Safeway, Shaw's, Tom Thumb, and Vons, will operate on shortened hours.

Kroger family stores will keep their regular hours. However, Costco and Sam’s Club will be closed on New Year’s Day, reports CNN.

Pharmacy chains CVS and Walgreens will be open, though some may operate on limited hours. Most banks, following the Federal Reserve banking holidays, will close on New Year’s Day. The New York Stock Exchange and Nasdaq will also cease trading on New Year’s Day.

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