The New York Stock Exchange is open once more with a litany of protective measures to prevent the spread of the coronavirus among brokers. The exchange is reopening amid a resurgence of American indices, reflecting growing optimism as the country slowly tries to return to normal.
Governor Andrew Cuomo was present on Tuesday to ring the opening bell as the New York Stock Exchange finally reopened after a two-month hiatus. The NYSE suspended on-site operations in March after several employees tested positive for the novel coronavirus. The reopening of the exchange was done conditionally, with substantial protective measures in place. The exchange is limited to 25% capacity, which amounts to around 80 brokers allowed on the floor at any given time. Also, brokers are required to wear face masks and must have their temperatures checked before entering the building. The exchange has decided not to test returning staff and is relying on its measures instead.
Many brokers returning to the exchange were asked not to use public transportation and were encouraged by firms to use taxis or drive to work. Governor Cuomo did not address the request by firms for their workers to avoid public transport directly but instead spoke of the state of New York City's public transport. "I think the subways have never been cleaner. If you have an overcrowded subway car, well, then you're where you are with an overcrowded sidewalk or an overcrowded lobby or an overcrowded elevator." Said, Cuomo.
The timing of the reopening coincides with a reasonably strong resurgence in major American indices. Wall Street's resurgence is an indication of growing confidence in the American economy as the country slowly tries to return to normal. Since the NYSE closed in March, the Dow Jones Industrial Average (NYSE: DIA) and the S&P 500 (NYSE: SPY) have both risen roughly 35%, while the NASDAQ Composite (NASDAQ: QQQ) surged 37% above the other two indices.