Stock Analyst Size Up Market Closure
Wall Street will be closed again Tuesday due to Hurricane Sandy on the east coast.
An Indiana financial analyst says the closing of the New York Stock Exchange shouldn't have much impact on the markets. Linda Conti, Vice President of Wealth Management at David A. Noyes Co. says the market has closed numerous times in the past. Past closure include 9-11, Hurricane Gloria, the assassination of President John F. Kennedy and the parades marking the end of World War II.
Conti says even though there's no trading going on, markets around the world continue to trade. Conti says the markets were closed for 9-11 for four days. She says the market can legally shut down and remain closed for numerous days. Conti says it's probably better to close the NY Stock Exchange rather than risk safety issues. She says when the market reopens, they're anticipating reports on quarterly earnings and other news that has been delayed.