NYSE to reopen, on backup generators
Sandbags were still keeping back water Tuesday in the Financial District, the day after megastorm Sandy swirled her skirts westward leaving the New York metropolitan area with major power outages, downed trees and flooding. The New York Stock Exchange said it was cleaning up and would begin trading Wednesday. (Oct. 30, 2012) Credit: Getty Images
The New York Stock Exchange will be open Wednesday.
In a bit of welcome news for fund managers, investors and even the economy, the company that operates the iconic exchange at 11 Wall St. announced it would not extend its trading shutdown to a third day.
"The world is used to seeing the financial markets through the lens of the floor of the New York Stock Exchange," said Larry Leibowitz, chief operating officer of NYSE Euronext, which operates the exchange. "It gives them a sense of comfort."
The NYSE said its building and trading floor are fully operational and that normal trading will resume Wednesday at the usual starting time of 9:30 a.m.
Since power is out in much of downtown Manhattan, the company said it will run the exchange using its own backup generators, a first.
The exchange also said that a key data center in New Jersey housing computers used to trade stocks was in good condition after the storm and would be fully up and running Wednesday.
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
