Commodity trading. Lots of damage to report in the new york city area, more than 50 homes were destroyed by fire last night in breezy point queens. Just east of cone any islands, more than 170 firefighters were on the scene. And separately more than 200 patients were evacuated last night from new york universitys Medical Center after power went out. Patients some on respirators operating on Battery Power were taken to other hospitals. And check this video out. A crane on this luxury high rise building, thats under construction, topping over on 57th street, the 90 Story Building looks over central park. Luxury apartments telling for tens of millions of dollars. The crane could be seen blowing in the wind for most of the night and officials there trying to figure out how to get that down eventually. To find out how much rain and wind sandy will be packing and where its heading next, jen carfagno has the forecast. Between morning. So we are still dealing with central winds of 65 miles an hour with the super storm sandy. The pressure is coming up a bit. Now to 960. As the pressure comes up, the winds will relax, but most of today, well be dealing with strong and potentially destructive winds plus the rainfall is out there and the snow continuing to develop. Heres where the rain is, on the light are side across pennsylvania and into virginia, but still falling nonetheless. And then heavy snow in West Virginia and lighter snow and getting blown around in ohio. These are some of the peak wind gusts that we have seen. Atlantic city gusted at 64 plrn. One of the highest in fact the second highest wind gust we saw 90 miles an hour. 96 up in rhode island. Well see on the order of 2 to 3 inches of rain across pennsylvania, new york, perhaps into ohio, as well, but up into new england, this is a concern today that we have for thunderstorms. We may see thunderstorms with damaging winds and we also may see the isolated risk of tornadoes, as well. Plus the heavy rainfall concern up there. That will be todays risk. And then the wind threat, as well, high Wind Warnings continue. Through about midmorning to noon depending on the local area. Also lake erie had been continuing to get water over the interstate because of that. So the high Wind Warnings plus the snow weve had now, 18 inches in davis, West Virginia and more to keep on falling. Lets talk about the New York Stock ExchangeTrading Floor did survive the night. There was no flooding or damage. But a lot more going on and we want to talk to Bertha Coombs who joins us with more on whats ahead for the markets. Yeah, last night the nyse take to go twitter to dismedical rumors that the floor was under water. You can see it is dry here. Plenty of sand bags. Later on this morning, the nyse, the nasdaq and exchanges will all try their contingency systems. The ncht yse will do that test between 8 00 a. M. And noon. They will do it open at 9 30 and then a closing at 12 00. They do expect and hope to be open tomorrow. But what you have to look at is the rest of the infrastructure here in Lower Manhattan. Last night, we had a substation blow on east 14th street in the lower part of manhattan and that set off a major power outage, all of manhattan below 39th street is without powers as of last night. And i will tell you it was a very frightening sight driving downtown to try to get done here to get here. Hotels down here have no power. So there may have been some folks who actually were in the area and stayed in hotels to be near here, but beyond that, you also dont have any transportation infrastructure. Everything, eight bridges and all tunnels coming in to man at that time manhattan remain closed. You have accept subway tunnels that have been flooded. So Public Transportation system remains closed. They will assess the damage after daylight. Mayor bloomberg will hold an update at 9 00 a. M. And well get a better assessment as to whether people can move in and around the city this morning. In queens as you all mentioned last night, we had a fire in breezy point queens. It went to six al lamps. More than two dozen homes destroyed. Thats the situation that were seeing. And even in areas where there isnt damage, there are a lot of tree limbs down and so precare just to be out and about. Upper manhattan at bet better, but when you get into the outskirts and certainly here in Lower Manhattan, it is very can desolate. Ive never seen it like this even during the blackout in 2003. Thank you. Please stay safe. A numb Portfolio Managers say if you cant close out some of these months, it bbs complicated. I believe the opening will be at 9 30 this morning to be testing that situation. Theyll be running the close at noon. And again, this is just a test to make sure the systems are all operational before tomorrow. Its not just morning city. The jersey shore also taking a pounding. Kayla tausche is in cape may this morning. Whats the situation there . Physicians here in cape may feel like at least this town dodged a balance let with sandy making direct landfall just north of here. Within an hour, the rains had slowed even though the wind kept up and we thought the world was over, but an hour later, we realized it was just the eye had passed and sustained winds are still pretty present here in southern new jersey. A quarter of the population is left without power. Lnlg southern new jersey still under flood warnings. Barrier islands all disconnected nearly from the mainland and Atlantic City probably sustaining the worst flooding along with ocean city. We saw significant flooding in hoboken closer to new york city, as well. Atlantic city, the situation was incredibly desire and last night governor Chris Christie made harsh words about those who chose not to evacuate. And saying the mayor had gone rogue and heeded people that cant need to heed. Christie saying if you were stranded in Atlantic City, you had to wait until daylight to be rescued. They just could not send emergency responders. And you can tell by the fact that even two dozen people who were at shelters had to be evacuated from the shelters because the flooding and the situation there got so bad. Now of course overall, well have to wait until daylight for the damage lear to be assessed. We have high tide in just a few more hours which could possess more flooding risk, but people think the swors ovworst is over. Were glad youre still safe there. 8 37 is high tide and that is expected to bring more concerns about flooding. Well check back in with her later this morning. The New York Stock Exchange and nasdaq will both be completely shut down for a second day in a row. The bond markets are closed today, as well. Futures are continuing to trade. Those prices will be uptodate. Futures this morning for the dow, nasdaq, s p, those are all trading unlg 9 15 a. M. Is this the first time weather related issues have closed it since 1988. Apparently there were snow drifts about 40 feet high back in 1988. But the situation here is rocky. There are contingency plans being set up to resume trading tomorrow. And as you mentioned, its a key day to do it, last day of the month. A lot of people who need to get those trades in, a lot of concerns. That would be three days in a row. Lets look at the World Markets this morning. Futures are still trading until 9 15. And the market not very wlik wid right now. But we do have confirmed that the boards are good and trading is open. But not much happening. Oil, i guess its the idea of now i guess its up a little, but it hasnt spiked and it was actually weak frer time to time. Maybe its based on knock out the power of 4 Million People or whatever it is. And youll see a dip in consumptico consumption for several days. As far as the dollar, you figure forex markets wont be as affected and there it is, the euro about 1. 29. Gold has ban hovering around the low 1700s. Its up 5 today. Its time for the Global Markets report. Kelly, weve been watching your markets to get an idea of how people are feeling this morning. Whats the sense you have . Absolutely. And im surprised to say, but actually better earnings news helping to bolster european stocks this morning. Stoxx 600 up about 0. 6 . Yesterday was a weaker session, but we can take a look at the sectors. Banks surprisingly have been among the better performers. Doichl bank among those reporting earnings helping to keep a floor below shares. Over here, oil and gas up nearly 2 . Autos 1. 4 . Porsche among those with shares that are up. I think we have the financials here, insurance 1. 2 , this is the one i wanted to focus on. We can show you some of the big names. Traveler travelers does trade in frankfurt, its shares were just down about half a percent. Theyve lost 3 of their value over the last seven days. P travelers property and casualty with a big exposure to the sandy area. Heres the reinsurers. You munich being the biggest. Others bouncing back. Two factors at play. One results better than expected. Asset management business in particular has helped lift the sector. Secondly, a lot of people thinking that the selloff might have been premature because if anything, property rates may be headed higher, meaning the market may continue to firm now on the back of the storm that has hit. Its a double whammy for households, but it may mean somewhat better results as they continue to work on pricing. Quick check on the european bourses. Mostly in the green here. Seeing gains in the range of 0. 6 to 0. 9 . Bond wall, quiet her. Investors moving in to spain and italy. Finally just forex, bank of japan disappointed. Investors wanted to see more. This despite the fact theyve gone on two quantitative easing programs in two months. That still wasnt enough. The dollar yen is sinking half a percent done this morning. Bank of china in the market with record amounts of liquidity injections. These are the layses s places focus on. Broadly speaking the tone is better than yesterday and it helps perhaps that as people are trying to get a sense of the damage from sandy, it may not be as bad as some of the worst case estimates. Back to you. We can certainly hope so. Thank you. Coming up, getting the markets open for wednesday. Should investors expect a selloff when we finally do get the markets open as the month draws to a close. And it wont ebe halloween tol p tomorrow. I think well put it off. And governor christie will be speaking at 10 00. Mayor bloomberg at 9 00 to give us an update. Hopefully some of the rescue separations can continue. Halloween is not Chris Christie said he is. If it looks like its a dangerous situation, he said yesterday he will move halloween to another day. Sandy leaves hundreds of thousands without power along the east coast including nearly 1 million along long island. Well have a live report from montouk. Man these guys are slow. Reminds me of our network before cdw virtualized it. How . Cdw and hp networking implemented a Virtual Application Network that reduces the time to deploy cloud applications from months to minutes. With fewer bottlenecks like this. Finally. Charles client golf. Aim for the lake. Really . Taking a live look at the capitol. President returning there after an aborted trip to florida. U. S. Equity futures, read arrows across the board. But those numbers not moving much. Also taking a look at crude given whats going on and that has gone up marginally, 85 to 76. Although i here already talk of gouging pe pump. Joining us is a partner and Portfolio Manager at douglas lane an associates. When you think about the market opening tomorrow, what are the big issues to take into consideration . I think people will see macro issues first. Oil and gas, will it be transportation. Our view is short term yes, but longer term, things will get back to normal. So the focus will be elections, fiscal cliff, but more for us is more earnings. How important is getting trading back up tomorrow . It is important. People want to see trading does occur. Yes, very important especially as positions for hedge funds and other people start closing out and in values, too. Everyone wants to vol their pal portfolios at the end of the month. Anything to worry about or consider if it becomes an electronic trading situation on the bigboard . I think it will be interesting to see if there will be any glitches going forward, but i dont think so. I think they have a whole day today to figure this out. It sounds like the backup systems are in place. Any particular stocks or investment themes in the contest of the storm that youre thinking about as a result of all this . If you say what needs to be replaced, what are things that people used so that you can go to the manufacturing side, generation side, Companies Like general election, emerson electric, which might get a short bump up in demand. On the other side, the speculation in the short term, do Energy Prices spike. We dont though yet. Its all over the place. So maybe over the couple week, there will be some volatility, but long term, they all work themselves out. Some of the companies will have exposure and get to raise their premiums after a situation like this. So you get the complete offset there because if theyve already allocated reserve for it, then the stocks will discount it pretty well, but on the other side, when people come up for reinsurance again especially along the coast, prices will be much more firmer i think Companies Look at that discounted as well, so sfok appli stock prices will be higher than expected. We were looking at whether or not the Stock Exchange can open tomorrow. I think the plan is to do that, but theyll be testing the arca system in case it cant get the Trading Floor open. Is that a situation as an investor that you worry about are on you figure this is a situation that hes pretty tightly under control either way . I think its pretty tightly under way given the history of what theyve gone through, this would not surprise me that theyve already got the backups in there. But you have nasdaq and other things. Its not the end of the world. Tune any Portfolio Managers that are playing the futures market in the u. S. Right now . I think the only people that people who need to put money to work to balance portfolios. Maybe Insurance Companies that have liabilities that they want to match. But other than that, its not very liquid, so you wont have real prices because people arent sure where the trades are going. Thank you for joining us this morning. Please stay saefr. A chart back on october 1st, much better than expected you can see right at the o there. Sa. A chart back on october 1st, much better than expected you can see right at the o there. Fs. A chart back on october 1st, much better than expected you can see right at the o there. Es. A chart back on october 1st, much better than expected you can see right at the o there. A chart back on october 1st, much better than expected you can see right at the o there. Much better than expected results. This Company Makes backup power systems. Ron baron has been an early investor in this company. The minute the power turns out, it turns out automatically. In full dislow sure, our family put 50 down on one of these last week. We wont get it for a few weeks. Were wishing we had done it sooner. Natural gas, so you dont have to keep putting it in hour by hour. And the minute we were there, we had power for a long time, but did you lose power last night in. The lights were flickering. But knowing that we had that as a backup feels good. Then the entire neighborhood went out and continues to be out. Theres no lights anywhere in the entire neighborhood. And it started up. Having one light and having the gar wanlg disposal still work, like we had nine days twice last year where it was nine days where you didnt thats what generac said. There were so many times where there were extended Power Outages that more and more people are doing this. For nine days i walked in to the bathroom and switched the light on every single time because its dark in there. One benefit of no you power is that theres no television so you go bed earlier. It means the ipads that were charged, theres a slight dim from the side of the bed where the kids are people watching movies on ipads at the hoe tel last night. P. They run through the batteries quickly. They do. But verizon was working. So you could get high speed internet. That defeats the purpose, you go to the hotel and it has no power. What floor were you on . 14th floor. But the operators did operate. I did walk up and down a couple times, but they had backup power. Dont trust the backup power. And we had a fire alarm at 1 00 a. M. , 12 30. So a long evening. Hearing the trees all around and you dont know when one is last time one hit my house. I know. You worry about all the people that are out there. You worry about where you park your car. First i had them huddled in front toying and im like why am i putting them right next to each other . So then i spread them out. Anyway, it is a situation we are still waiting to see how much damage is out there waiting for first light this morning to get a better assessment of things. When we come back did you hear what the hair tweeted . Joe kernens hair . Joe kernens hair one, sandy zero. Should i retweet that . I might retweet that. In your case, you just dont shower. Lets be honest. There was no power in the bathroom, so i washed my hair in the sink this morning. Did you brush your teeth . I did. Doesnt seem like it over here. Youre so far away. This is a situation where if thats our worst problem, yeah. There are bigger problems out there and we are still trying to assess the damage. When we come back, well talk about sandy leaving hundreds of thousands without power. In fact i believe it is millions who are without power. At 6 50 a. M. , delaware governor jack markell will give us an update on his state. And phil lebeau has a live update on the situation in the skies