Nasdaq’s near 24-hour trading plan sparks Wall Street backlash

From a market-structure perspective, the biggest fear is that near-24-hour trading spreads the same pool of orders more thinly, instead of attracting a whole new wave of participants. When volume is low, every order matters more, which can mean wider bid-ask spreads, flashier price moves, and more opportunities for sophisticated players to trade against slower retail orders.Jay Woods, chief global strategist at Freedom Capital and a veteran NYSE floor broker, told CNBC that companies and investors need “tim ...