Saturday, December 30, 2006
The New York Stock Exchange said yesterday that it will close Tuesday as part of a national day of mourning to mark the funeral of former president Gerald R. Ford. The NYSE joined the Nasdaq Stock Market, which made a similar announcement Thursday.
Financial markets have traditionally closed for presidential funerals, most recently for the burial of former president Ronald Reagan in June 2004. The previous time that Wall Street was closed this long was after the Sept. 11, 2001, terrorist attacks, when there was no trading for six days, including a weekend.
Other U.S. financial markets planned at least partial closings Tuesday. The New York Mercantile Exchange said that it would close its trading floor, but electronic trading would be open.
The Chicago Mercantile Exchange said that it would close commodities and equity markets all day but would open until noon for foreign exchange and interest rates on its trading floor and electronic trading system. The CME will reopen electronic trading at 3:30 p.m. Tuesday for Wednesday trades.
Trading at the Chicago Board of Trade will be closed, except for the Treasury market, because of a scheduled bond auction that will keep the market open until noon. Bond markets are expected to have a shortened day, closing at 2 p.m.