(As of 7:00 am pacific)
Equity markets in New York are
closed as Hurricane Sandy blasts the city.
Mild economic numbers and weakness in Europe had set the stage for what
looked like a negative opening on Wall Street.
Most commodities are near unchanged and the dollar is up against most
currencies. The economic effects of
Hurricane Sandy should be significant as insurers batten down the hatches for a
tsunami of damage losses. 'The fiscal
cliff' should be coming more into play as the election nears and attention is
refocused on this serious looming problem.
