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Markets & Stocks
NYSE, Nasdaq to close for Reagan
Financial markets will be closed for the full day Friday in honor of the 40th president.
June 8, 2004: 11:38 AM EDT

NEW YORK (CNN/Money) - Financial markets will be closed Friday in memory of former President Ronald Reagan, who died Saturday after a long battle with Alzheimer's disease.

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The New York Stock Exchange, the Nasdaq stock market and the American Stock Exchange will remain closed for the full day, exchange officials said.

The bond market will also be closed. And the two biggest commodities and futures markets, the Chicago Board of Trade and the New York Mercantile Exchange, also will be closed, Reuters reported.

Friday has been declared a national day of mourning for Reagan, with the federal government closed, including the Securities and Exchange Commission.

The NYSE opened two minutes later than usual Monday, after holding a moment of silence to honor Reagan.

The NYSE has traditionally closed for all or part of its session for the funeral of a U.S. president, the last time on April 27, 1994, when it closed for the full day for Richard Nixon's funeral.

Other examples include the funeral of Lyndon Johnson in 1973, Harry Truman in late 1972, Dwight Eisenhower in 1969 and John F. Kennedy after his assassination in 1963.

In addition, the Senate Banking Committee delayed its hearing on President Bush's nomination of Federal Reserve Chairman Alan Greenspan for another term at the helm of the central bank.

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U.S. markets observe a moment of silence for former President Ronald Reagan prior to Monday's opening.

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And the Labor Department pushed up its report on wholesale prices in May to Thursday morning from Friday morning.

Reagan became the first sitting president to visit the NYSE on March 28, 1985, when he addressed the trading floor about his economic plan, the exchange said. He also visited the Big Board in May 1992 with former Soviet Union President Mikhail Gorbachev as part of the NYSE's bicentennial commemoration.

The exchange, in a brief statement, called Reagan a "great champion of free people and free markets."

The NYSE added that "its thoughts and sympathy are with President Reagan's family and loved ones."

Reagan has been called the most influential president since Franklin D. Roosevelt and remained a towering presence in American politics despite his 10-year absence from public life after his battle with Alzheimer's was disclosed.

For more on Reagan's impact on the world's largest economy, click here.

Ronald Wilson Reagan
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For a look at CNN/Money's report on his impact, click here.

Finally, for's in-depth coverage, click here.

The former president's body will lie in state in the U.S. Capitol Wednesday and Thursday. On Friday, a service at the National Cathedral will be followed by a private sunset burial at the presidential library in Simi Valley, Calif.  Top of page

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