NYSE Euronext profits fall amid trading slump November 6, 2012 THE OWNER of the New York Stock Exchange yesterday announced that net income fell by 42 per cent to $108m (£67.6m) in the third quarter, despite continued efforts to cut costs. NYSE Euronext has been hit by substantial declines in derivatives activity in its key New York, London and Paris markets. Equity trading volume in [...]
US shares rise in light trade as vote looms November 5, 2012 US stocks advanced modestly yesterday in light trading in one of the year’s quietest sessions on the day before the US presidential election. Whatever the outcome of the race between incumbent President Barack Obama and Republican challenger Mitt Romney, the election’s resolution will finally end the uncertainty that has kept the market stagnant for the [...]
Consumer and jobs data sees equities leap November 1, 2012 THE S&P 500 scored its best day in seven weeks yesterday as bullish consumer confidence and private-sector jobs data gave investors reason to cheer following superstorm Sandy’s devastating sweep through the US Northeast. Technology and materials sector shares led the advance in a day of mostly average volume. About 6.7bn shares changed hands on the [...]
New York climbs back to life as markets reopen October 31, 2012 THE NEW York Stock exchange re-opened yesterday after a two-day closure caused by Hurricane Sandy. Although much of the city remained without power, and a severely reduced transport system was in place, New York’s financial hub returned to life with many returning to work despite offices relying on backup power. After New York’s mayor Michael [...]
After the storm October 30, 2012 ■ Stock markets set to re-open today ■ New York may be without power for days ■ Obama and Romney halt campaign events NEW YORK began to pick up the pieces of Hurricane Sandy’s aftermath last night, after Wall Street was brought to a standstill for a second consecutive day. Millions still face power outages [...]
New York Stock Exchange set to resume full trading today October 30, 2012 THE NEW York Stock Exchange will re-open today, little more than 24 hours after the passing of the monster storm and severe flooding caused by Hurricane Sandy. “NYSE Euronext will open for normal trading operations in coordination with all US equities, bonds, options and derivatives markets,” the exchange said. “Trading will commence on the New [...]
NYSE expected to re-open for trading today October 30, 2012 THE US stock market was closed for a second straight day yesterday as cash equity trading was cancelled in the wake of Hurricane Sandy. Yesterday’s shutdown was the first time weather had resulted in a two-day market shutdown since the Great Blizzard of 1888. Exchanges expect to reopen today. NYSE Euronext said the New York [...]
Frankenstorm October 29, 2012 First two day close of New York exchange due to weather since 1888 Millions left without power as storm surge threatens Manhattan Insurers estimate the total cost of the damage could reach $10bn HURRICANE SANDY last night hit the US’s North East coast, closing stock exchanges, grounding aeroplanes, flooding low-lying areas, and potentially landing insurers [...]
Frankenstorm: Don’t fall foul of the Broken Windows Fallacy October 29, 2012 THERE are times, fortunately not too often in these days of technological revolution and extraordinary scientific progress, that human beings can but bow to the forces of nature. We may be capable of flying to the moon but there are some natural events that leave us powerless and unable to control events. Everybody with family, [...]
The calm before the fiscal storm October 29, 2012 AS HURRICANE Sandy hits the eastern seaboard of the US, just how much will it rock the markets? And could it be a game changer for the presidential elections – now only a week away? According to an analyst note by the chief investment strategist of S&P Capital IQ, Sam Stovall, history says that hurricanes [...]