U.S. Stock Exchanges Remain Closed to Honor Ford
RENEE MONTAGNE, host:
Our business news starts with Wall Street taking a four-day break.
(Soundbite of music)
Following the weekend and New Year's Day, the major stock exchanges will stay closed tomorrow, a fourth day, in honor of former President Gerald Ford.
The Treasury Department will be open in the morning to honor a regularly scheduled bond auction. Looking back at the first day of last year, the Dow has ended up 16 percent. The NASDAQ gained 9 percent. And the S&P 500 added about 13 percent. In other business news, workers on strike at Goodyear Tire and Rubber Company will go back to work tomorrow. They voted last week to end a strike that began in October after accepting a three-year agreement that will allow one tire factory in Texas to shut down, among other things. But the new contract also creates a $1 billion healthcare fund for retirees.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.