Join Jerry Hirsch for a live chat about the electric vehicles coming on the market and the factors you should consider before purchasing one. The chat is on Tuesday at noon. Sign up here.
Photo: Henrik Fisker, CEO of Irvine carmaker Fisker Automotive, shows off the production version of the Karma plug-in hybrid. Credit: Allen J. Schaben / Los Angeles Times
The New York Stock Exchange and the Nasdaq Stock Market were expected to open as usual for trading on Monday, as the worst of Hurricane Irene passed.
It wasn't clear how many market employees would be able to get to work, however, with New York public transit systems still shut down.
The Securities and Exchange Commission said on its website Sunday that "the securities exchanges have informed the SEC that they will open for regular hours on Monday. The decision to open was made in consultation with the SEC following a series of discussions throughout the weekend."
Trading was expected to be light this week, in any case, with many market players on vacation during the unofficial last week of summer.
The Securities Industry and Financial Markets Assn., Wall Street's main trade group, said Sunday that it recommended a normal trading session in the bond market on Monday as well.
Several economic reports are due on Monday, including U.S. personal income and personal spending figures for July, pending home sales for July, and manufacturing activity in August in the Southwestern region covered by the Federal Reserve Bank of Dallas.
-- Tom Petruno
RELATED:
Long Island beach residents refuse to leave
Irene snarls New York highways, tunnels, sidewalks
Despite damage, Mid-Atlantic residents say it could have been worse
Photo: A man walks across 42nd Street in Times Square in New York on Sunday as Hurricane Irene hits the city. Credit: Timothy A. Clary / AFP / Getty Images
Here is a roundup of alleged cons, frauds and schemes to watch out for:
Hurricane Irene –- Law enforcement agencies are forecasting that a wave of fraudulent charitable donation schemes will arrive in the aftermath of Hurricane Irene. To make sure donations get to those who need them, the Internet Crime Complaint Center suggests that donors do not respond to unsolicited emails or telephone calls seeking donations. Instead, donations should go directly to recognized charitable organizations, the agency said.
Government grants –- The Federal Trade Commission, along with four state attorneys general, has obtained a court order shutting down a fraudulent organization that promised to provide government grants to the needy but instead sold worthless how-to books and coaching services. Under a settlement, Wealth Power Systems and Aria Financial Services were banned from marketing grant-writing programs and ordered to pay a fine of $265,000. Several other individuals and organizations were banned from marketing moneymaking opportunities, the FTC said in a news release.
When a “law firm” calls –- The Better Business Bureau is warning residents of Texas to be careful if they receive telephone calls from people claiming to be from law firms that are suing them on behalf of payday loan providers. The callers use the name of an existing law firm and ask victims to provide bank or credit card information. The bureau cautions that you should never disclose personal financial or identifying information to people you don’t know.
RELATED:
Identity theft, fake gems: Your weekly ScamWatch
Social Security Administration employee accused of stealing from beneficiaries
Gold jewelry, foreign currency: Your weekly ScamWatch
-- Stuart Pfeifer
Photo: Satellite image of Hurricane Irene. Credit: Reuters
