The Charles Schwab Corporation announced the availability of 24-hour trading five days a week, on Wednesday. This will allow all clients to participate in overnight trading in the S&P 500 and Nasdaq-100 and hundreds of exchange-traded funds outside of the regular market hours of 9:30 a.m. to 4 p.m.
“In today’s world, market-moving news doesn’t wait for standard market hours, and retail traders know what a difference it can make to have access to the markets when volatility spikes,” James Kostulias, managing director and head of trading services at Charles Schwab, said in a press release.
According to a Gallup poll conducted in 2023, 41% of those aged 18-29 have money invested in the stock market, the lowest percentage of all surveyed age groups.
Brady Talley, a graduate student studying finance, said low-volume overnight trading can result in big swings in the price of stocks, which he said he can sometimes use to his advantage for discounts.
“I do most of my trading for my phone, and Robinhood is easily the best for that,” Talley said.
Winston Hill, a sophomore majoring in accounting, said he switched from Charles Schwab to Robin Hood as he said it was better suited for trading in smaller amounts.
“Given that it’s an upstart with pockets not nearly as deep as its rival’s, Robinhood does a surprisingly good job in a handful of categories, compared to the well-funded and deeply experienced Charles Schwab,” James Royal wrote in an article for Bankrate.
