Stock markets set to reopen on Wednesday $DJI:xnys
- Published: 31 October 2012
- US stock and options markets remained closed last night as New York was battered by Hurricane Sandy. Extensive flooding has been seen across the lower lying areas of the city with mass power outages across large parts of Manhattan also causing problems for residents and businesses
- S&P Case Shiller Home Prices report was stronger again in August in line with estimates, rising 0.5% for the seventh consecutive month. However this was dampened slightly by the news that Consumer Confidence fell in Oct
- A higher level of market volatility is expected as two days of pent up demand will flow through the exchanges as investors move to adjust positions
- In M&A news Disney has made its first major acquisition since 2009 with its announcement that it will purchase Lucasfilms in a deal worth nearly USD4.00 Billion in cash and equity. With it comes the rights to the Star Wars franchise which will see Star Wars Episode 7 released sometime in 2015
- DOW +0.03%, S&P500 –0.07% and NASDAQ +0.06% (markets closed)
- USD was stable overnight with lack of direction from bond and equity markets. It was weaker yesterday afternoon post BoJ announcement
- Spot gold remained unchanged and Crude was slightly higher up 0.3%
