Stock exchanges to open on Monday

Associated Press

NEW YORK “”mdash; Wall Street promised to reopen for business
Monday morning even as thousands of utility workers raced to
restore communications and power to the city’s devastated
financial district.

While the stock markets remained closed for the third straight
day Thursday ““ the longest closing since the crash of 1929
““ some trading of government bonds and commodities took place
as both the Chicago Board of Trade and Chicago Mercantile Exchange
reopened.

Prices for Treasury bonds and notes skyrocketed as investors
sought out a safe haven following the terrorist attacks.

Although the NYSE, Nasdaq and Amex’s trading abilities
were not directly harmed by the attack and most big financial firms
have backup offices where they can do business, extensive
logistical problems still exist.

The NYSE’s trading floor is in the financial district,
meaning that the area has to be made safe enough for traders and
others to get there.