New York Stock Exchange to close trading floor, trade electronically for storm
The New York Stock Exchange said it will shut its trading floor starting tomorrow and invoke contingency plans to move all trading to NYSE Arca, its electronic exchange, as Hurricane Sandy heads toward the city.
Photo credit: Scott Eells / Bloomberg
Translation: Our financial system will continue moving without a physical presence.
Photo of the day: Wall Street celebrates Easter, too. With bunny ears. (ht to my co-worker Sara; photo by Seth Wenig/AP)
» On May 20th, to be precise: The most successful private sectors early in 2012 have been finance and information technology, up nearly 13% when trading began today. The 13,000 figure is considered something of a benchmark for the Dow’s health, and while analysts are right to warn that the significance may be predominantly symbolic, the nature of investor confidence is such that a positive psychological message can itself be a big boon. The Dow crossed this threshold at a time when most attention was focused on Greece, which secured a second bailout from the Euro Zone as their fiscal crisis continued.
The ultimate bad-luck signs: From our boy Zach Seward, a video of The Smurfs ringing the opening bell on the Wall Street this morning. What’s up with the cheesy techno music and dumb effects on the video? And why are The Smurfs so terrible?
Copyright 2009-2013 Ernie Smith • Ask us stuff! • E-mail us • Follow us on Twitter • Follow us on Facebook
