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Stock markets expect to open on time Monday

August 28, 2011 | 12:58 pm

The New York Stock Exchange and the Nasdaq Stock Market were expected to open as usual for trading on Monday, as the worst of Hurricane Irene passed.

It wasn't clear how many market employees would be able to get to work, however, with New York public transit systems still shut down.

The Securities and Exchange Commission said on its website Sunday that "the  securities exchanges have informed the SEC that they will open for regular hours on Monday. The decision to open was made in consultation with the SEC following a series of discussions throughout the weekend."

Trading was expected to be light this week, in any case, with many market players on vacation during the unofficial last week of summer.

The Securities Industry and Financial Markets Assn., Wall Street's main trade group, said Sunday that it recommended a normal trading session in the bond market on Monday as well.

Several economic reports are due on Monday, including U.S. personal income and personal spending figures for July, pending home sales for July, and manufacturing activity in August in the Southwestern region covered by the Federal Reserve Bank of Dallas.

-- Tom Petruno


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Photo: A man walks across 42nd Street in Times Square in New York on Sunday as Hurricane Irene hits the city. Credit: Timothy A. Clary / AFP / Getty Images