This is historic

For the first time since 1888, the stock market has been closed for weather.  


Courtesy of the New York Times. 

After Hurricane Sandy, Stock Exchanges Prepare to Open

By SUSANNE CRAIG

Wall Street is preparing to open for business as New York City slowly recovers from the wreckage of Hurricane Sandy.
The New York Stock Exchange and Nasdaq both plan to resume trading on Wednesday following the unprecedented storm that flooded many parts of Manhattan and prompted widespread power outages. The market closed for two days as Hurricane Sandy battered down on the East Coast, forcing thousands of people to evacuate and causing millions of dollars in damage.
“It’s incredibly important to open these markets,” said Miranda Mizen, director of equities research at TABB Group. “It says New York is open for business.”

The New York Stock Exchange is one of the world’s most identifiable symbols of capitalism and its inability to operate is often viewed as a larger statement on stability of U.S. stock markets and the economy.
It’s rare for the stock markets to close operations for two days. The last time the New York Stock Exchange did so for weather related reasons was 1888.

After terrorists attacked various American landmarks including The World Trade Center, the Big Board closed for four days. The re-opening was heralded around the world as a sign of the strength of the United States.
“Barring any unforeseen circumstances we will be open,” said Larry Leibowitz, the chief operating officer of the NYSE Euronext, the parent of the Big Board. “We all see the need to get the exchange working as quickly as we can.”
On Monday, the New York Stock Exchange battled rumors that the floor was under three feet of water. Mr. Leibowtiz, who lives not far from the N.Y.S.E., walked through flooded streets this morning to get to work, but he said the water stopped about two blocks away from the Big Board.