Stocks surged on Wall Street to their highest levels since the business shutdowns took hold in the US over two months ago, climbing on optimism Tuesday about the reopening economy even as the nation's official death toll from the coronavirus closed in on 100,000, a number President Donald Trump once predicted the country would never see.
The NYSE now claims it has actually talked to public health and wellness as well as chosen authorities to create a procedure that will certainly permit the flooring to be open with preventive procedures. The little team of investors that are enabled to return will certainly be needed to wear face masks as well as method social distancing.
"In this absurd new reality, that is good news", he added.
Designated market makers, which oversee the trading of the NYSE's 2,200 listed companies, will continue to do so remotely and electronically as they have been since March 23. Masks are also required of the traders, who have been advised to avoid public transportation.
The changes, she said, are meant to protect the workers and reduce the strain on the health care system.
United Kingdom death rate up nearly 60,000
Another 141 people have tested positive for Covid-19, bringing the total number of confirmed cases in the country to 13,556. The total number of lab confirmed cases in the United Kingdom now stands at 261,184, with the daily tally at 1,625.
Cuomo praised the NYSE, saying it "reopened smarter than before: fewer people, wearing masks, new precautions that the Stock Exchange has incorporated, not because government said they had to, but because the stock exchange is smart".
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.
The city still remains in a largely dormant stage through June, although some restrictions are expected to ease after that. This would permit manufacturing, construction and curbside pickup from non-essential retailers. "So that enables us to create a new choreography where we won't have people walking across the trading floor".
While many share transactions now are executed through computers - enabling the market to function even when physical trade was halted - NYSE leaders say physical trading facilitates orders particularly in the final moments of the day, or during first trades of a new company following an initial public offering.
Cuomo said he will be in Washington D.C. on Wednesday to meet with President Donald Trump and discuss possible federal engagement in this process. "We are hoping that the market stays strong, that the economy catches up with the market, which has rallied in the face of economic disaster".