Average Hourly Performance
The S&P 500 is up just over 4% since November 15th, and below we highlight how it has gotten there on an intraday basis. In the chart, we provide the average hourly performance of the S&P 500 since the close on 11/15. (Since the market opens at the half hour mark, the first hour is calculated from the prior day's close to 10 AM ET.)
As shown, the first and last hour of the trading day have posted the strongest gains, while the 11 AM to noon and noon to 1 PM hours have averaged a gain of roughly 10 basis points. Three hours of the trading day have actually averaged declines. The 2 PM to 3 PM hour has averaged a decline of 2 basis points, while both the 10 AM to 11 AM and 1 PM to 2 PM hours have averaged a decline of 5 basis points.