Hurricane Sandy will close stock markets for a second day today, as Wall Street turned its attention to whether markets would be able to resume functioning on the month's final trading day on Wednesday.
NYSE Euronext and Nasdaq OMX Group , the largest two U.S. exchange operators, said they intend to reopen Wednesday, conditions permitting. The bond markets will also close on Tuesday, with traders aiming to reopen on Wednesday.
Wednesday is a key trading day because it marks the end of the month, when traders price portfolios. With New York still to feel the full impact of the storm Monday evening, fears remained that wind damage and possible power outages could test the ability of markets to reopen.
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NYSE Euronext and Nasdaq OMX Group , the largest two U.S. exchange operators, said they intend to reopen Wednesday, conditions permitting. The bond markets will also close on Tuesday, with traders aiming to reopen on Wednesday.
Wednesday is a key trading day because it marks the end of the month, when traders price portfolios. With New York still to feel the full impact of the storm Monday evening, fears remained that wind damage and possible power outages could test the ability of markets to reopen.
More...
