U.S. event, market closures for funeral of former President Bush

NEW YORK (Reuters) – U.S. President Donald Trump signed an order to close the federal government on Wednesday, Dec. 5, in a day of mourning for former President George H.W. Bush, who died on Friday at the age of 94.

Several financial exchanges have announced their markets will be closed on Wednesday. Some U.S. events and economic data releases previously scheduled for the week have been postponed or canceled.

The following is a list of scheduled market closures and canceled events.

STOCKS

The New York Stock Exchange and Nasdaq will be closed.

BONDS

The Securities Industry and Financial Markets Association (SIFMA) recommended on Saturday that fixed-income cash markets close.

U.S. FINANCIAL FUTURES/OPTIONS

CME Group (CME.O) announced on Sunday that U.S.-based equity and interest rate futures and options products would be closed for trading.

FEDERAL RESERVE BANK OF NEW YORK

The Open Market Trading Desk at the Federal Reserve Bank of New York said that reverse repurchase agreements and securities lending trades executed on Tuesday will mature on Thursday rather than Wednesday, given SIFMA’s recommendation that fixed-income markets close.

ECONOMIC DATA

IHS Markit announced that the release of U.S. services and global services purchasing manager index data will be postponed to Thursday.

ADP said on Monday that it had rescheduled the release of its national employment, small business, and national franchises reports for Thursday at 8:15 a.m. EST.

The U.S. Commerce Department has postponed the release of its quarterly services survey to Thursday at 10 a.m. EST.

The U.S. Labor Department will release nonfarm productivity and costs data on Thursday at 8:30 a.m. EST.

The U.S. Energy Information Administration has postponed the release of its weekly petroleum status report to Thursday at 11 a.m. EST and rescheduled its weekly natural gas storage report for Friday at 10:30 a.m. EST.

The U.S. Agriculture Department will release its weekly export sales report on Friday at 8:30 a.m. EST.

SECURITIES AND EXCHANGE COMMISSION

The U.S. Securities and Exchange Commission has canceled an open meeting scheduled for Wednesday at which it was due to discuss potentially issuing a consultation on changing quarterly reporting obligations.

U.S. FEDERAL RESERVE

Federal Reserve Board offices will be closed on Wednesday.

Fed Chairman Jerome Powell’s testimony to Congress’ Joint Economic Committee on Wednesday has been postponed and will be rescheduled at a later date, the committee said on Monday.

CORPORATE EARNINGS

Lululemon Athletica Inc (LULU.O) postponed the release of its third-quarter financial results to after the market close on Thursday.

American Eagle Outfitters Inc (AEO.N) will now report its third-quarter financial results on Dec. 11.

H&R Block Inc (HRB.N) will report results for the second quarter of the fiscal 2019 year before the market open on Thursday.

ENERGY AND COMMODITY MARKETS

CME will operate a regular schedule for commodities.

FOREX

Foreign exchange markets are expected to open on Wednesday, given that trading in currency markets is not restricted to any one central venue but is conducted around the world. Analysts said trading conditions could be illiquid, however.

U.S. FEDERAL RESERVE

The Federal Reserve will publish the Beige Book as scheduled on Wednesday at 2 p.m. EST.

Federal Reserve Bank payment systems will operate normally, and Reserve Bank cash offices will fulfill orders for currency and coin according to normal operating procedures.

The Federal Reserve Bank of New York said on Monday the Fedwire Securities Service will operate during its regular hours on Wednesday.

ECONOMIC DATA

The Mortgage Bankers Association will release its weekly mortgage applications survey data on Wednesday as scheduled.

The Association of American Railroads will issue its weekly report on major railroad traffic on Wednesday.