Premarket trading runs from 4:00 a.m. to 9:30 a.m. Eastern Time, and after-hours trading runs from 4:00 p.m. to 8:00 p.m. ET. Together they are called extended hours. You can buy and sell most US stocks in these sessions, but with fewer traders, wider price gaps and limit orders only.
US stock market hours at a glance
| Session | Time (Eastern) | What happens |
|---|---|---|
| Premarket | 4:00 a.m. to 9:30 a.m. | Reaction to overnight news and morning earnings |
| Regular session | 9:30 a.m. to 4:00 p.m. | Most of the day’s volume |
| After-hours | 4:00 p.m. to 8:00 p.m. | Reaction to earnings released after the close |
Those are the exchange windows. Your broker may offer less: many open premarket at 7:00 a.m. rather than 4:00 a.m. A few brokers now also offer overnight trading in selected stocks on weekdays.
Why stocks move so much outside regular hours
Most companies report earnings either after the 4:00 p.m. close or before the 9:30 a.m. open, so the first reaction happens in extended hours. Economic reports such as jobs and inflation data come out at 8:30 a.m. ET, an hour before the open. That is why a stock can close at $100 and open the next day at $85 without a single regular-hours trade in between. Traders call that a gap.
Rules that are different
- Limit orders only. Most brokers do not accept market orders in extended hours. You set the highest price you will pay or the lowest you will accept.
- You must opt in. An order usually has to be marked for extended hours, or it will wait for the regular session.
- Orders may not carry over. A premarket order that does not fill is often cancelled at the open, depending on the broker.
- Stop orders usually do not trigger. A stop-loss set for regular hours will not protect you from an after-hours drop.
The risks
- Thin volume. Fewer buyers and sellers means your order may fill partly or not at all.
- Wide spreads. The gap between the bid and the ask can be several times wider than during the day, so you pay more to get in and out.
- Sharp reversals. A stock that jumps 10% after earnings can give it all back during the conference call or at the next open.
- Professional competition. Much of the extended-hours volume comes from institutions reacting to news in seconds.
How traders use premarket moves
Many active traders do not trade premarket at all. They use it as a watchlist: which stocks are moving, on what news and on how much volume. A big premarket move on heavy volume with a clear reason, such as an earnings beat with raised guidance, tends to matter more than a move on a handful of shares. We list the biggest premarket movers and the reason for each every weekday morning in the Markets section.
Is premarket price a good guide to the open?
Often, but not always. The opening price is set by an auction at 9:30 a.m. that includes far more orders than premarket trading, so it can differ. The first 15 to 30 minutes after the open are usually the most volatile of the day.
Related guides
Watching a stock before the bell? Vote bullish or bearish and post your take on the $NVDA page.
- Live prices and sentiment on every ticker page
- Weekly email with your watchlist movers
- Price alerts on the stocks and coins you follow
Frequently asked questions
What time does premarket trading start?
On the exchanges, 4:00 a.m. ET. Many brokers start later, often at 7:00 a.m. ET.
Can anyone trade after hours?
Yes, most US brokers offer it to regular investors, usually with limit orders only.
Why did my stock change price overnight?
News or earnings came out while the regular session was closed, and trading in extended hours moved the price before the next open.
Do after-hours trades count toward the closing price?
No. The official close is set at 4:00 p.m. ET. After-hours trades are reported separately.
This article is general information, not financial advice.
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