Fri, May 6, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Wall St ends day flat as New York starts post Storm Sandy recovery

Thursday, November 01, 2012

by Beverly Chandler, Opalesque London:

US stocks ended the day largely flat after the two day market suspension due to the attentions of Storm Sandy on the north eastern corner of the US this week. The iconic opening bell for the New York Stock Exchange was rung by New York City Mayor Michael Bloomberg as the exchange re-opened on Wednesday 31st October, having been closed for the longest time due to the weather since 1888.

The re-opening of this and other American exchanges left asset managers with just one day instead of three to balance their books for the end of the month and, for more than 20% of US mutual funds, to balance their books before the end of their fiscal year, according to Morningstar Inc.

Many hedge funds have their physical presence in Connecticut which was hit by the storm but appears to have survived with power at the least and intermittent connectivity in telephone and internet. A speaker at the Opalesque Roundtable Connecticut, Dr. Hanming Rao, Chief Investment Officer, Global Sigma Group, informed Opalesque that their office was functional and they expected to get their monthly update out within the week.

While other hedge fund firms emerged to report that their offices and disaster recovery plans were working, concerns were high regarding what would happen when the markets reopened. Criticism was levied at the US exchanges, described as 'the la......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n