Hurricane Sandy did a lot of damage to the North East of the U.S. Which has us wondering how she will affect the economy and the stock market. Take a minute to vote on our poll and leave your comments below.
Good luck getting back into the swing of things today as the markets open up after a historic 2 day closing.
(AP:NEW YORK) The New York Stock Exchange will reopen for regular trading Wednesday after being shut down for two days because of Hurricane Sandy.
The exchange said in a statement Tuesday that its building and trading floor are fully operational and that normal trading will resume at the usual starting time of 9:30 a.m.
There had been erroneous reports Monday that the exchange floor had flooded. Exchange spokesman Ray Pellecchia said the exchange's building did not have any flooding or damage.
Tuesday marks the first time since 1888 that the NYSE remained closed for two consecutive days due to weather. The last time was due to a massive snow storm. Continue reading "New York Stock Exchange will reopen Wednesday" →
(AP:NEW YORK) Major U.S. stock and bond markets will be closed because of Hurricane Sandy on Tuesday.
It will be the first time since 1888 that the New York Stock Exchange will have been closed for two consecutive days because of bad weather. The cause then was a blizzard that left drifts as high as 40 feet in the streets of New York City.
Much of the East Coast was at a standstill Monday as the storm approached. Mass transit and schools were closed across the region ahead of the storm hitting land, which was expected to happen later Monday.
Areas around the Financial District were part of a mandatory evacuation zone. The storm surge is already pushing water over seawalls in the southern tip of Manhattan.
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U.S. stock trading will be closed on Monday and possibly Tuesday in response to Hurricane Sandy, NYSE Euronext said late on Sunday.
NYSE Euronext, which runs the New York Stock Exchange, had previously said that electronic trading would remain open and that only the exchange's trading floor would close.
In a statement, the company said that "the dangerous conditions developing as a result of Hurricane Sandy will make it extremely difficult to ensure the safety of our people and communities, and safety must be our first priority." Continue reading "All US exchanges shut down before Hurricane Sandy" →
(AP:NEW YORK) The New York Stock Exchange will close its trading floor Monday as Hurricane Sandy barrels its way up the Northeast, but Big Board trading will continue electronically.
NYSE Euronext said Sunday it is putting in place its contingency plans beginning Monday and will announce later when the trading floor will reopen.
The New York Mercantile Exchange, a commodity futures exchange, also will be shutting on Monday its trading floor which is located in a mandatory evacuation zone. The CME Group, which owns NYMEX, said all electronic markets will open at their regularly scheduled times.
The moves come as Hurricane Sandy causes the shutdown of transportation systems throughout the region. Governor Andrew Cuomo said New York City's subways and buses will shut down Sunday evening. New York City Mayor Michael Bloomberg ordered residents to evacuate some low-lying areas Sunday and said city public schools will close Monday. Continue reading "NYSE to trade electronically Monday, floor is shutdown" →