24/7 Wall St. has been monitoring news stations and exchange news ahead of the landfall for Hurricane Sandy on the eastern seaboard. As we have multiple locations, we will still be publishing some news as normal on Monday but the news is now official that trading on major exchanges will be closed. We have read and seen news releases from the NYSE Euronext Inc. (NYSE: NYX), NASDAQ OMX Group Inc. (NYSE: NYX) and other exchanges that trading will not occur on Monday due to anticipations of this storm. We would also note that the exchanges may be closed on Tuesday, October 30, 2012, as the NYSE and NASDAQ have the Tuesday status as of now listed as “Pending Confirmation on Tuesday.” We will be monitoring data and information as well as possible for our readers.
When this occurs, the likely outcome is that other major U.S. markets are closed as well. Most major U.S. markets are dependent on personnel, trading participation and liquidity from New York and East Coast market participants. We have not yet seen confirmation (as of 12:30 a.m. EST) from all of the banks with headquarters and large operations in New York that their New York City and surrounding offices will be closed.
We are just now getting wire comments that the CME Group (NASDAQ: CME) is closing its U.S. equity index futures and equity index options on futures markets on the floor and on CME Globex at 8:15 a.m. EST on Monday.
CBOE Holdings Inc. (NASDAQ: CBOE) announced that, due to Hurricane Sandy, trading will be closed on Monday, October 29, for the Chicago Board Options Exchange (CBOE), CBOE Futures Exchange (CFE), C2 Options Exchange (C2) and CBOE Stock Exchange (CBSX).
Below is a snippet from the last NHC/NOAA update on the expected path of Hurricane Sandy.
-The 24/7 Wall St. Team