Economy

New York Stock Exchange Reopens Trading Floor After 2-Month Closure

New York Stock Exchange Reopens Trading Floor After 2-Month Closure”

Traders cheered as Governor Andrew Cuomo rang the opening bell of the Stock Exchange, which had been closed since March when the state shut down in the face of the virus.

New safety measures will require traders to wear masks and avoid public transportation, while plexiglass barriers have been erected to promote social distancing.

A few members of the state Senate and Assembly were expected to travel to Albany to debate and vote on bills from their offices or the chambers while most lawmakers will participate from home through video and teleconference.

The Dow Jones Industrial Average was up more than 500 points on Tuesday, or just over 2%.

"As trading on this iconic floor recommences, NY is showing the nation that we will lead the lead way", said Cuomo, who has turned his attention to re-opening NY.

"With the cases in New York City on a decline and with what we've learned about how to protect ourselves from COVID-19, we feel like we can create an environment that reduces risk for people to come back into the trading floor and provide the service they're typically used to providing", Cunningham said.

Floor brokers will wear masks.

Traders wearing masks work on the first day of in person trading since the closure during the outbreak of the COVID-19 on the floor at the New York Stock Exchange in New York United States

New York City has been hit hard, with more than 20,000 deaths from COVID-19, the illness caused by the coronavirus, and many businesses remain closed as the most populated us city remains under lockdown. States should open up ASAP. It was shuttered for the Blizzard of 1888, at the start of World War I in 1914, for former President Ronald Reagan's funeral in 2004, after the September 11, 2001, terrorist attacks, and for Hurricane Sandy in 2012.

"The New York Stock Exchange facade is the face of capitalism, and the economy more broadly, and so recognizing the fact that we can set an example for how America should reopen slowly, cautiously, flexibly, ready to move as needed is an important thing for our economy", she explained.

NYSE Chief Commercial Officer John Tuttle said: 'The floor represents so much more than the several tens-of-thousands of square feet it occupies.

(The coronavirus has led to more than 1.66 million infections in the United States and at least 98,200 deaths.) It switched to a fully electronic trading system but operated under normal hours without interruption.

There was some optimism about the race for a vaccine.

The World Health Organization said that the world remains mired in only the first stage of the pandemic, putting a damper on hopes for a speedy global economic rebound. Europe has recorded about 170,000 deaths, while the USA was approaching 100,000 in a span of less than four months, more than the number of Americans killed in the Vietnam and Korean wars combined.

The paper additionally stated Intercontinental Exchange had actually asked companies, consisting of significant financial institutions, that utilize investors on the flooring to concur to give payment if any type of claims develop.

More news: Cuomo: front line workers must receive death benefits



Like this

loading...
loading...

Latest


28 May 2020
Hong Kong 'no longer autonomous from China' - Pompeo
The series of protests were aimed at compelling mainland China to abandon its plan to preselect candidates for Hong Kong's leadership elections.

28 May 2020
Showers and Storms Through Thursday
This will lead to isolated to scattered flooding concerns, especially where the heavier band of rain sets up. Friday: Rain and storms likely late in the morning and through the afternoon as a cold front passes.

28 May 2020
Ruby Rose breaks silence on Batwoman exit: "It wasn’t an easy decision"
Deadline reports that both Ruby and the team on the show were not happy, it was not a good fit and that they chose to part ways. The CW series will go on without the star , with producers instead opting to cast a new LGBT+ actor in the central role.

28 May 2020
SpaceX launch cancelled due to bad weather
NASA says the next scheduled attempt for launch will be on May 30 at 3:22 p.m. Everybody was ready today, and we appreciate that and the ship was great.

28 May 2020
'Liverpool have been a machine' - Mbappe praises Klopp's 'ruthless' side
At just 21, Kylian Mbappe is already a four-time Ligue 1 victor and a World Cup champion to go with numerous other honours.

28 May 2020
Gold Off 2-Week Low Amid US-China Tensions
Asian shares slipped as political unrest in Hong Kong rekindled concerns about the disruptive protests seen a year ago . China's Shanghai Composite was up 0.43% while the Shenzhen Component was up 0.24%, reversing its earlier losses.

28 May 2020
Disney World plans to open some parks on July 11
They will also install plexiglass at cashier stations, put up signage to encourage social distancing and open cleaning stations. There will be some much loved aspects of Walt Disney World that won't be available in order to keep people at a distance.

28 May 2020
R.I.P Preksha Mehta: Karan Kundrra, Arjun Bijlani And Others Mourn Death Of The Crime Patrol Actress
Filmmaker Milap Zaveri blamed the rising cases of suicide among actors on the ongoing lockdown and its economic implications. Due to this, many actors and technicians are facing financial troubles and mental health issues.

28 May 2020
New Zealand hikers found after 18-days in 'hostile' wilderness
And don't hesitate to use it if you're in trouble, Watson said, there is no cost for an essential search and rescue. It's believed the pair had been without food for some time in rugged terrain when discovered this afternoon.

28 May 2020
Kobe Bryant's induction to hall of fame postponed
Bryant, an 18-time National Basketball Association all-star, died in a helicopter crash in January at the age of 41. There was no immediate announcement from the Hall of Fame about the rescheduling plan.