Key takeaways
- Regular trading hours for US-listed stocks are 9:30 a.m. to 4:00 p.m. Eastern Time on business days.
- Pre-market trading commonly runs from about 7:00 to 9:30 a.m. and after-hours from 4:00 to 8:00 p.m. ET; some brokers now offer overnight trading in certain stocks.
- Extended-hours trading is less liquid and often more volatile, and the best-price protections of the regular session do not apply.
- The official closing price is the 4 p.m. price on the exchange, whatever happens after hours.
- Markets close on set holidays and close early on a few days, such as the day after Thanksgiving.
The US stock market has a familiar schedule, 9:30 a.m. to 4:00 p.m. Eastern Time, but trading no longer stops at the bell. FINRA notes that trading outside regular hours has become more widespread among retail investors, and that overnight trading in certain stocks has more recently been made available to them. Trading in those sessions is possible, but it is not the same market, and FINRA's guidance on extended-hours trading explains why.
The regular session
FINRA notes that regular trading hours for listed stocks, as defined by the SEC, are 9:30 a.m. to 4:00 p.m. ET, and Investor.gov's glossary gives the same times. The New York Stock Exchange's published schedule matches, with its core trading session from 9:30 a.m. to 4:00 p.m. ET.
Most trading activity happens in this session. FINRA describes extended-hours activity as still dwarfed by the tens of millions of transactions that typically take place during regular hours.
Extended hours: pre-market, after-hours and overnight
| Session | Typical times (ET) | Notes |
|---|---|---|
| Overnight | 8:00 p.m. – 4:00 a.m. | Recently offered for certain stocks by some brokers |
| Pre-market | about 7:00 – 9:30 a.m. | Available on some venues and through some brokers |
| Regular | 9:30 a.m. – 4:00 p.m. | The main session |
| After-hours | 4:00 – 8:00 p.m. | Available on some venues and through some brokers |
These times come from FINRA's description of the typical sessions. Investor.gov notes that the duration of extended sessions varies between markets and venues, and that you should check with your broker whether and when they are available. The NYSE's own schedule shows an early trading session from 7:00 to 9:30 a.m. and a late session from 4:00 to 8:00 p.m. ET on some of its markets.
Why extended hours are different
FINRA lists the risks plainly:
- Less liquidity. Fewer counterparties mean an order may fill partly or not at all, and possibly at a less competitive price than during regular hours.
- More volatility. With fewer trades, prices can swing more, and FINRA notes that key announcements such as earnings normally take place during extended hours, so prices can react sharply. How to read an earnings report covers what those releases contain.
- Venues are not linked. During regular hours, brokers are generally required to fill orders for listed stocks at the national best bid and offer (NBBO). The NBBO is only published during regular hours, so that protection does not apply after hours, and one venue may show a worse price than another.
- Different order rules. Brokers set their own parameters. FINRA notes some accept only limit orders during extended hours and may cancel unexecuted orders or carry them over. Time-in-force explains why a standard day order usually does not carry into extended sessions.
- Options mostly do not trade. FINRA notes options exchanges offer extended-hours trading in only a limited number of contracts.
All brokers must tell customers about the risks of trading outside regular hours, under FINRA rules.
Which price is the "close"?
FINRA is explicit: the share prices recorded at 4 p.m. on the exchanges are the official closing prices for the day, regardless of what happens after hours, and funds use those prices to value their holdings. The next day's opening price is set by supply and demand at the open, which may differ from the last after-hours trade. So an after-hours price is not a preview of the next day's open, and FINRA warns that the price you get after hours might be worse than in the next day's regular session. Fewer counterparties is also the condition in which a bid–ask spread can widen.
Holidays and early closes
The NYSE observes a published list of holidays, including New Year's Day, Martin Luther King Jr. Day, Washington's Birthday, Good Friday, Memorial Day, Juneteenth, Independence Day, Labor Day, Thanksgiving and Christmas. In 2026, for example, Good Friday falls on 3 April and Juneteenth on Friday 19 June.
Some days close early, at 1:00 p.m. ET for NYSE equity markets: in 2026, the day after Thanksgiving (Friday 27 November) and Thursday 24 December. Check the NYSE calendar for the current year rather than relying on memory, because observed dates shift when a holiday falls on a weekend.
Before placing an extended-hours order
- FINRA suggests reviewing your broker's extended-hours risk disclosure before trading outside regular hours, and checking which order types are allowed.
- Some brokers accept only limit orders in these sessions, and some do not offer extended-hours trading at all.
- FINRA's example of a sharp after-hours fall follows an earnings announcement; volatility explains how price swings are measured.
The how the stock market works guide explains what happens to an order once it is placed. To practise order types on simulated prices without these risks, Learn to Trade Stocks Beginner uses a virtual balance and replayed charts. It is one of our education apps; the investing basics hub lists the related guides.
Good to know
Frequently asked questions
What are the stock market's hours?
What is after-hours trading?
Why is extended-hours trading riskier?
Is the stock market open on Good Friday?
Sources
- Holidays and Trading Hours (opens in a new tab)New York Stock Exchange — accessed
- Extended-Hours Trading: Know the Risks (opens in a new tab)FINRA — accessed
- After-hours Trading (glossary) (opens in a new tab)Investor.gov, U.S. Securities and Exchange Commission — accessed
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