THE NEW York Stock Exchange will re-open today, little more than 24 hours after the passing of the monster storm and severe flooding caused by Hurricane Sandy.
“NYSE Euronext will open for normal trading operations in coordination with all US equities, bonds, options and derivatives markets,” the exchange said.
“Trading will commence on the New York Stock Exchange at 9:30am (Eastern Time) under normal opening procedures, and the NYSE Euronext building and trading floor are fully operational.”
The exchange had said that it could switch to fully electronic trading if necessary, but such a contingency plan is not believed to be necessary.
“The devastation [caused by the storm] is a huge concern for stocks and sectors exposed heavily to transport, logistics, industrial and insurance and we are set to see a significant hit to share prices on Wall Street when trade resumes,” said Ishaq Siddiqi of ETX Capital.
“With that in mind, the gains made in Europe on Tuesday are likely to be under increased pressure in today’s session.”
The latest Chicago purchasing managers’ index is expected today.