Market Commentary and Intraday News

Wall Street To Remain Closed Tuesday

205 days ago

(RTTNews) - The stock and bond markets will remain closed for at least a second day as traders and others await approaching Hurricane Sandy.

The National Hurricane Center says the storm surge from Sandy could reach eleven to twelve feet along the New Jersey-New York coast.

The New York Stock Exchange-Euronext said the NYSE would remain closed Tuesday, with a planned re-opening on Wednesday, conditions permitting.

The Nasdaq will also close, with the intention of reopening Wednesday.

It marked the first hurricane closure for the market since Hurricane Gloria struck the East Coast region in September 1985.

The Wall Street financial district was located in a mandatory evacuation zone.

Electronic trading of commodities did continue Monday. Crude oil was down about 90 cents per barrel.

The weather situation caused Pfizer and Thomson Reuters to delay their scheduled earnings reports this week. Fast food restaurant chain Burger King did report Monday, posting net income for the third quarter that was down 83 percent on year. Adjusted earnings were better than forecast.

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