December 4, 2018 / 8:05 PM / 15 days ago

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

NEW YORK (Reuters) - U.S. President Donald Trump has signed an order to close the federal government on Wednesday 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 cancelled.

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

STOCKS

The New York Stock Exchange and Nasdaq will be closed.

BONDS

The Securities Industry and Financial Markets Association (SIFMA) is recommending that fixed-income cash markets close.

U.S. FINANCIAL FUTURES/OPTIONS

CME Group’s U.S.-based equity and interest rate futures and options products will 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.

FINANCIAL AND 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 has rescheduled the release of its national employment, small business, and national franchises reports for Thursday at 8:15 a.m. EST (1315 GMT).

IMoneyNet has postponed the release of its money market fund data to Thursday.

The U.S. Commerce Department has postponed the release of its quarterly services survey to Thursday at 10 a.m. EST (1500 GMT).

The U.S. Labor Department will release nonfarm productivity and costs data on Thursday at 8:30 a.m. EST (1330 GMT).

The U.S. Energy Information Administration has postponed the release of its weekly petroleum status report to Thursday at 11 a.m. EST (1600 GMT) and rescheduled its weekly natural gas storage report for Friday at 10:30 a.m. EST (1530 GMT).

The U.S. Agriculture Department will release its weekly rice price report on Thursday and its weekly export sales report on Friday at 8:30 a.m. EST (1330 GMT).

The U.S. Commodity Futures Trading Commission will release its weekly trader commitments report on Monday.

SECURITIES AND EXCHANGE COMMISSION

The U.S. Securities and Exchange Commission has cancelled 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.

CORPORATE EARNINGS

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

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

H&R Block Inc 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

While Federal Reserve Board offices will be closed, the Fed will publish its Beige Book survey of the 12 Federal Reserve districts as scheduled on Wednesday at 2 p.m. EST. (1900 GMT).

Federal Reserve Bank payment systems will operate normally, and Reserve Bank cash offices will fulfil 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.

Reporting by April Joyner, David Gaffen, Richard Leong, Saqib Iqbal Ahmed, Jonathan Spicer, Jessica Resnick-Ault and Chizu Nomiyama in New York, Pete Schroeder, Michelle Price, Andrea Ricci and Melissa Bland in Washington and Julie Ingwersen in Chicago; editing by Rosalba O'Brien, Dan Grebler and Jonathan Oatis

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