What time does the stock market open?
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Stock market
A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange, as well as stock that is only traded privately, such as shares of private companies which are sold to investors through equity crowdfunding platforms. Investment is usually made with an investment strategy in mind.
Stocks can be categorized by the country where the company is domiciled. For example, Nestlé and Novartis are domiciled in Switzerland and traded on the SIX Swiss Exchange, so they may be considered as part of the Swiss stock market, although the stocks may also be traded on exchanges in other countries, for example, as American depositary receipts (ADRs) on U.S. stock markets.
Size of the markets
The total market capitalization of all publicly traded securities worldwide rose from US$2.5 trillion in 1980 to US$93.7 trillion at the end of 2020.
As of 2016, there are 60 stock exchanges in the world. Of these, there are 16 exchanges with a market capitalization of $1 trillion or more, and they account for 87% of global market capitalization. Apart from the Australian Securities Exchange, these 16 exchanges are all in North America, Europe, or Asia.
By country, the largest stock markets as of January 2021 are in the United States of America (about 55.9%), followed by Japan (about 7.4%) and China (about 5.4%).
Stock Market Trading Hours: What Time Is the Stock Market Open Today?
When does the stock market open? It’s a simple question with more answers than you’d think.
Regular trading hours for the U.S. stock market, including the New York Stock Exchange (NYSE) and the Nasdaq Stock Market (Nasdaq), are 9:30 a.m. to 4 p.m., except stock market holidays. (All times Eastern unless otherwise indicated.) On early-closure days, typically right before or right after a market holiday, regular stock trading ends at 1 p.m.
That’s the easy part.
Thing is, trading also can occur outside of normal stock market hours. On days with a regular session, for instance, there is “pre-market” trading; while hours vary, they can extend as early as 4 a.m. and go through the market open at 9:30 a.m. Then there are “after-hours” sessions, which span from 4 to 8 p.m.
These trades are performed on “electronic communications networks,” or ECNs, and directly pair buyers and sellers rather than using a middleman. While this kind of trading once was only accessible to large institutional buyers, today brokers such as Fidelity and Charles Schwab facilitate this kind of trading.
As for the weekends: There are no regular trading hours for stocks on Saturdays or Sundays. However, if you read a headline on a Sunday night saying that stock futures are down, that’s because most futures contracts (including equity futures, but also commodities such as oil and agricultural products and other investments) begin trading Sunday night on the aforementioned exchanges.
Commodities
Commodities such as oil, gold and wheat trade electronically from 6 p.m. Sunday to 5 p.m. Friday on CME Group exchanges. Regular trading hours at the competing Intercontinental Exchange run from 8 p.m. Sunday to 6 p.m. Friday.
International Stocks
Investors interested in what international bourses are doing in real time might need an evening pot of coffee, depending on what country they’re following.
Here are the trading times for some of the largest global stock exchanges. (All times represent regular trading hours, Monday-Friday, and are listed in Eastern time.)
- Toronto Stock Exchange (TSX): 9:30 a.m. to 4 p.m.
- Mexico Stock Exchange (BMV): 9:30 a.m. to 4 p.m.
- London Stock Exchange (LSE): 3 a.m. to 11:30 a.m.
- Euronext Paris (EPA): 3 a.m. to 11:30 a.m.
- Frankfurt Stock Exchange (FRA): 3 a.m. to 11 a.m.
- Tokyo Stock Exchange (TSE): 8 p.m. to 10:30 p.m., 11:30 p.m. to 2 a.m.
- Shanghai Stock Exchange (SSE): 9:30 p.m. to 11:30 p.m., 1 a.m. to 3 a.m.
- Shenzhen Stock Exchange (SZSE): 9:30 p.m. to 11:30 p.m., 1 a.m. to 3 a.m.
- Hong Kong Stock Exchange (HKG): 9:30 p.m. to 12 a.m., 1 a.m. to 4 a.m.
Cryptocurrencies
The digital currencies market is the easiest schedule to remember. Cryptocurrencies trade 24 hours a day, seven days a week. From Bitcoin to the smallest altcoin, if you have an itch, you can scratch it whenever you’d like.
The Stock Market Had Its Best Month in Years. We’re Not Out of the Woods Yet
Stocks rallied this past week as investors bet that the Federal Reserve has reached peak hawkishness. That’s wishful thinking.
The Dow Jones Industrial Average rose 3%, the S&P 500 index added 4.3%, and the Nasdaq Composite surged 4.7%. All three had their best months since 2020. Even the premium paid for high-yield bonds over Treasuries narrowed considerably.
Yet it was a strange week for celebration. The U.S. economy saw back-to-back quarters of declining real gross domestic product in the first half of 2022, the Fed’s favored measure of inflation remained stubbornly high, and the central bank raised interest rates by another three-quarters of a point, making this one of the fastest hiking cycles of the past 40 years.
What did change are expectations for future rate hikes, hinging largely on two sentences from Fed Chairman Jerome Powell’s news conference.
“While another unusually large increase could be appropriate at our next meeting, that is a decision that will depend on the data we get between now and then,” he said. “As the stance of monetary policy tightens further, it likely will become appropriate to slow the pace of increases.” Powell even said that interest rates, now at a range of 2.25% to 2.5%, are likely at “neutral,” meaning they are neither accommodative nor restrictive.
The market took that message to heart. Six weeks ago, interest-rate futures were pricing in a peak federal-funds rate target range of 3.75% to 4% in early 2023. Today, that peak is implied at 3.25 to 3.5% in December, just a point above the current target.
Furthermore, futures pricing now implies two quarter-point rate cuts from February to July 2023. In other words, the market is betting the Fed will slow down the pace of its rate increases by the end of this year, then rapidly switch to easing policy.
Powell’s comments about the neutral rate also drew the ire of some well-known economists and investors. Former Treasury Secretary Larry Summers called Powell’s comment on the neutral rate “indefensible,” while Pershing Square’s Bill Ackman unleashed a late-night tweetstorm on the subject.
“While 2.25 to 2.25% may be a neutral rate with 2% inflation, it is an extremely accommodative rate with inflation at 9%,” he wrote late on Thursday night, while isolating with Covid-19.
The implied rate path also seems highly unlikely—and almost certainly not good for the stock market. For it to develop, the Fed would have to either declare victory in its fight against rising prices
—does anyone expect inflation to magically collapse to 2% by year end?—or give up the battle altogether to rescue an economy that is rapidly sinking into recession. So, while the pace of tightening may be moderating and inflation may have peaked—famous last words, we know—it’s far from a green light for investors.
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Given a slowing economy, still-rising interest rates, and stock and bond indexes at or near short-term overbought levels, it might be time to sell the rally and rebalance into higher-quality or defensive areas.
“Credit spreads have continued to pull tighter…on a market narrative that a dovish pivot could be warranted,” wrote Goldman Sachs’ chief credit strategist, Lotfi Karoui, on Thursday. “We disagree, given the likely forward path of inflation, and would continue to fade the rally, using it as an opportunity to cut risk and rotate further up in quality.”
It’s too early to declare a Fed pivot and an all-clear for bullish investors. This inflation surge isn’t likely to be tamed that easily.
Stock Market and Bank Holidays
Stock Exchange Holidays
The New York Stock Exchange (NYSE) and The Standard will observe the holidays listed below. Trades in participant accounts will not be processed on any of the days specified.
| Holidays Observed | 2022 | 2023 |
|---|---|---|
| New Year’s Day | — | Monday, Jan. 2 |
| Martin Luther King, Jr. Day | Monday, Jan. 17 | Monday, Jan. 16 |
| Washington’s Birthday/Presidents’ Day | Monday, Feb. 21 | Monday, Feb. 20 |
| Good Friday | Friday, April 15 | Friday, April 7 |
| Memorial Day | Monday, May 30 | Monday, May 29 |
| Juneteenth | Monday, June 20 | Monday, June 19 |
| Independence Day | Monday, July 4 | Tuesday, July 4 |
| Labor Day | Monday, Sept. 5 | Monday, Sept. 4 |
| Thanksgiving Day1 | Thursday, Nov. 24 | Thursday, Nov. 23 |
| Christmas | Monday, Dec. 26 | Monday, Dec. 25 |
The NYSE is open from Monday through Friday 9:30 a.m. to 4:00 p.m. Eastern time. The NYSE may occasionally close early, either on a planned or unplanned basis. In such cases, The Standard will process transaction requests received prior to the close of the NYSE.
Bank Holidays
Banks and some fund companies observe the holidays listed below. Although the stock markets and The Standard are open, some trades may not be executed on the days specified.
| Holidays Observed | 2022 | 2023 |
|---|---|---|
| Indigenous Peoples’ Day | Monday, Oct. 10 | Monday, Oct. 9 |
| Veterans Day | Friday, Nov. 11 | Friday, Nov. 10 |
