U.S. equity markets will reopen today after the longest weather-related shutdown in more than a century, resuming after the New York Stock Exchange was spared by Hurricane Sandy as it swept through New York Oct. 29.
The decision was announced in statements by NYSE Euronext, Nasdaq OMX Group Inc. and Bats Global Markets Inc. The NYSEs headquarters are running on backup power and will keep using it if necessary all week, Larry Leibowitz, the chief operating officer, said in a phone interview. Fixed-income trading, halted at noon Oct. 29, will also reopen, under a recommendation by the Securities Industry and Financial Markets Association. Trading was canceled for four straight days in the wake of the Sept. 11, 2001, terror attacks and the New York exchange shut for seven days in 1933 during President Franklin Delano Roosevelts bank holiday.
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