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NYSE Research

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Daily U.S. Market Update

Michael P. Reinking, CFA - Sr. Market Strategist

May 28, 2025 at 1:45 p.m. EST

Overnight futures traded modestly lower with another weak auction in Japan but bounced back to unchanged after a German 15yr auction went off without a hitch. I don’t want to overstate the volatility we’re talking about 20pts in S&P futures, less than 0.5%, but this is definitely the first time over the last decade where I can recall markets paying any meaningful attention to auctions. It also highlights that in general things are pretty quiet. This morning while I was on Yahoo Finance with Brad Smith I think he coined the term “hyper-waffling” which may ultimately describe what’s ahead of us this summer.

Research Insights

Stefanos Bazinas
Senior Manager, Product Development, NYSE

The early bird gets the worm

A new normal in off-hours U.S. equities trading
Last October the NYSE announced plans to extend weekday US equities trading on NYSE Arca to 22 hours a day, subject to regulatory approval. Extended trading would take place from 1:30am EST to 11:30pm EST and would provide market participants with an additional six hours of trading per day. In this post we examine how ...


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