NY Stock Exchange Reopens As US Closes In On 100,000 Dead
Source: Associated Press
By MATT OTT, TED SHAFFREY and LISA MARIE PANE, May 26, 2020 GMT
NEW YORK (AP) The trading floor of the New York Stock Exchange reopened Tuesday in a largely symbolic step toward economic recovery, and stocks surged at the opening bell, even as the official U.S. death toll closed in on 100,000, a mark President Donald Trump once predicted the country would never see.
With infections mounting rapidly in places like Brazil and India, a top global health official warned that the crisis around the world is far from over.
The NYSE trading floor in lower Manhattan opened for the first time in two months, though with plexiglass barriers, masks and a reduced number of traders to adhere to the 6-foot social-distancing rules. Those entering the NYSE will have their temperatures taken and were asked to avoid public transportation.
New York Gov. Andrew Cuomo, who has presided over a state with the highest death toll since the virus took hold in the United States, rang the bell to set off trading. They didnt reopen the way it was, he said during his daily briefing. They reopened smarter....
Read more: https://apnews.com/86b061844589b6e3f218007544d0de80
In morning trading stocks surged, driving the S&P 500 to its highest level in 2 1/2 months on rising hopes for an economy recovery. S&P 500 was up 2%, Dow Jones Industrial Average climbed more than 660 points, or 2.7%.
The rally took place as U.S. consumer confidence inched up this month, showing signs of stabilizing as reported by the government. Yet it remains near a 6-year low in view of widespread business shutdowns that have sent the economy into recession and driven unemployment to levels last seen during the Great Depression.
IronLionZion
(45,255 posts)Miguelito Loveless
(4,438 posts)and the people running it know that it is unlikely to affect them.
sop
(9,945 posts)They have plexiglass barriers, face masks, reduced number of workers, 6-foot social-distancing rules, their temperatures taken and avoid public transportation. The rest of us...not so much.