On October 25, Eastern Time, the New York Stock Exchange announced plans to extend the trading hours of its fully electronic exchange, NYSE Arca, to 22 hours on each working day, pending regulatory approval. All stocks, ETFs, and closed-end funds listed in the U.S. will be subject to this new '22-hour' trading system.
Wall Street analysts say that extended trading hours may mean financial companies have to strengthen trading during the early morning and evening periods of the day. Stock prices may fluctuate more significantly during the extended trading hours, allowing traders to take advantage of these trading opportunities.
The announcement from the New York Stock Exchange has not yet triggered significant market fluctuations. Overnight, U.S. stocks closed mixed, with the Dow down 0.61%, the Nasdaq up 0.56%, reaching a new historical high during the session; the S&P 500 index slightly fell by 0.03%. Among them, all seven major 'tech giants' in the U.S. stock market rose, with Nvidia surging 2.6%, briefly surpassing Apple in market capitalization to become the largest publicly traded company in the world.
The New York Stock Exchange stated that the extended trading hours will start from 1:30 AM Eastern Time on weekdays (corresponding to 1:30 PM Beijing time) and will last until 11:30 PM (11:30 AM Beijing time).
In comparison, the current trading hours of the New York Stock Exchange are from 4 AM to 8 PM Eastern Time, with the busiest normal trading hours from 9:30 AM to 4 PM Eastern Time.
In recent years, interest in all-day trading in the U.S. market has been increasing. The extension of trading hours by the New York Stock Exchange is in line with this trend. In May 2023, the U.S. internet brokerage Robinhood launched a '24/5 trading' service, open from 8 PM Eastern Time on Sunday to 8 PM on Friday. The global cryptocurrency market has truly achieved all-day trading, operating 24 hours a day, 7 days a week.
Impact on Bitcoin
The extension of U.S. stock trading hours will certainly have some impact on the cryptocurrency market. Experienced traders know that Bitcoin usually has larger fluctuations during the periods of 4 to 6 PM, 9 to 11 PM, and the U.S. stock market opening time at 9:30 PM. Extended trading hours indicate that there will be more significant changes in Bitcoin's market conditions, and situations of horizontal trading over the weekend will also decrease. Overall, Li Feng believes this is a favorable situation. What do you think?
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