At the closing bell today the New York Stock Exchange will join the nation in mourning President Gerald Ford, who passed away Tuesday, Dec. 26 at the age of 93. While it is always appropriate to sometimes let the financial world rest when events warrant, can the markets survive an unscheduled day off?Of course they can.
The markets need to close out of a sign of respect for a former leader of this country, and both the NASDAQ and New York Stock Exchange saw this as the appropriate thing to do this Tuesday, January 2. It is beyond me why the speculation about a partial trading day this Tuesday was even being covered by the media. The markets are what many of us pay attention to day in and day out -- but we need to let it rest sometimes, yes?
This marks the first time the markets will be closed for four continuous days (including the weekend and the Monday New Year's holiday) since the 9/11 attacks five years ago, when the markets were closed for six days.
While we all contemplate positions, holdings, portfolios and speculation for the upcoming trading year, it seems to be the appropriate time to reflect on the final days of 2006 and enjoy being around what we sometimes put on hold during the rest of the year.
Stocks were down slightly at the end of day Friday.
May President Ford rest in eternal peace.
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Reader Comments (Page 1 of 1)
12-30-2006 @ 9:30AM
Michael said...
are you nuts? Ford was just another in a line of idiot leaders this country had. he should be remembered only for the stupid pardon of Nixon, the hiding of the facts on the Kennedy killing and his reaction to the taking of american's by N. Korea. you think any of that is worth stopping the country from working, and espically those that got 50 million in bonuses?
12-31-2006 @ 3:18PM
Warren said...
#1
You stay classy.