Waking up to Wall Street: The dramatic change awaiting investors in Israel
Starting in December, Nasdaq is set to launch a new night trading session, keeping the US stock market open almost around the clock. US stocks will be tradable nearly 24 hours a day, subject to broker access. This move is a direct response to the crypto world and a global market that no longer waits for Wall Street's traditional opening hours.
Wall Street is about to undergo one of the most significant changes in its trading day structure in recent decades. Nasdaq is preparing to launch a new night trading session on December 6, 2026, during which trading on the exchange will occur 23 hours a day, five days a week, almost without interruption.
The US Securities and Exchange Commission (SEC) already approved Nasdaq's rule change in April, allowing it to expand trading to 23 hours a day. The December launch date depends on the readiness of market data distribution systems (SIP) and complementary regulatory changes. In early August, the SEC also approved temporary protection mechanisms against abnormal price fluctuations during night trading — a key step toward actual operation.
How the Trading Schedule Will Change
Currently, Nasdaq operates between 4:00 AM and 8:00 PM Eastern Time. The innovation is an additional session taking place between 9:00 PM and 4:00 AM New York time. After that, existing trading will continue until 8:00 PM, leaving only a one-hour break before the next trading day begins.
For investors in Israel, this is a major shift. In December, the time difference between Israel and New York is seven hours. This means Nasdaq's new night session (9:00 PM–4:00 AM in New York) will occur roughly between 4:00 AM and 11:00 AM in Israel. During the Israeli winter, Nasdaq will effectively be open for about 23 consecutive hours, from 4:00 AM until 3:00 AM the next day.
This is a fundamental change: corporate reports, geopolitical events in Asia or Europe, or interest rate decisions will be reflected in prices long before the traditional 4:30 PM opening in Israel. However, access will depend on your broker's systems and their ability to route orders to the night session.
Why is Nasdaq Doing This Now?
The answer lies in the new structure of the global capital market. According to Nasdaq data, foreign holdings in US stocks reached about $17 trillion in mid-2024, a 97% jump compared to 2019. For investors in Tel Aviv, Tokyo, or London, the old Wall Street structure meant that much of the local workday passed while US exchanges were closed.
Furthermore, the crypto market, which operates 24/7, has set new expectations. While alternative platforms already allow night trading, they often suffer from lower liquidity and wider spreads. Integrating night trading into the official exchange infrastructure is intended to address this gap.
Risks and Reality
It is important to note that opening the exchange does not automatically create liquidity. Even for stocks like Apple, Nvidia, or Tesla, the volume of buyers and sellers at 3:00 AM in New York will be significantly different from 10:00 AM. This may lead to larger Bid-Ask spreads and higher volatility.
The SEC addressed this in its August documents, noting that night trading hours are historically characterized by lower liquidity and higher volatility risks. Therefore, for the private investor, this change is primarily an opportunity to react to events in real time, rather than an invitation to trade at 4:00 AM.
The direction is clear: the US capital market is moving toward a model where prices are available almost whenever investors want to trade. For Nasdaq, this is a fight for global market share; for the Israeli investor, it means Wall Street will no longer be a market that only opens in the afternoon, but one that is accessible almost all day.
This article does not constitute an investment recommendation.
Elroi Agam: Researcher and investment strategist combining expertise in capital markets, high-tech, and the crypto world.
