Debt Free News

Stock markets close to honor Ford funeral

December 29, 2006

It has been announced to our debt free news department that the NYSE will be closed for the funeral of President Ford who passed away this week at his Rancho Mirage home in California.

Today, the NYSE announced that it would stop trading to honor the passing of President Gerald Ford. The NYSE will not trade on Tuesday, January 2, 2007.

Tuesday will mark a national day of mourning for the previous president. Ford funeral will be officially held on Tuesday. Many of our debt free article readers may have read yesterday that Nasdaq maid the same decision then.

In all debt free honesty, most US citizens would have guessed the markets would close anyway. Gerald Ford was the 38^th US president. He was 94 when he died this week. He passed on December 26, 2006, just one day after Christmas. If you remember than when President Ronald Reagan was buried over two years ago in June 2004, you remember the markets were closed then as well. As far as the other US financial markets, we expect that they will stop trading for a portion of the day as well – at least. Now that the NYSE has followed Nasdaq, we expect to see the others honor the passing as well.

Now, if you are a debt free history buff, you may already know that the markets have honored the passing of US presidents in some fashion or another since way back to Ulysses S. Grant, who passes in 1885. But, we have seen that the NYSE has on occasion traded on a small scale during a presidential funeral – look at Hoover. His funeral was back in ’64 and the market traded part of that day when he was buried. SO, you never really know – you just expect.

If you think about the fact that this is a 3 day Holiday Weekend coming up with the New Year, you could be surprised to see the markets close totally on Tuesday – making it an actual 4 day non trading time frame.

Debt free article readers will remember that the last time Wall Street was closed for that long a period was right after September 11, 2001. Then, the markets halted for 6 whole days.

The actual morning the Ford passed, we saw a moment of silence at the NYSE, Nasdaq and New York Mercantile Exchanges. Each of these markets took the time to observe the passing of a US president.

As we here at this debt free and debt consolidation site observe the passing of a previous President, we respect the work they all do in honor of our great country. Ford was in fact the only president in the US to not actually be elected into position.

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