Wall Street is gearing up for a massive winter storm that is forecast to hit the U.S. northeast over the next couple of days.
The U.S. National Weather Service is forecasting a major storm for the region over the next 36 hours, which is expected to dump at least two feet of snow, coupled with high winds. State attorney general, Eric Schneiderman, said that New York City is facing a “crippling and potentially historic blizzard”.
Notwithstanding the forecasts, the NYSE said Modnay that all of its exchanges, including the NYSE, NYSE Arca, NYSE MKT and both of its options exchanges, will be open for normal trading sessions today, Jan. 26 and tomorrow, Jan. 27. “All physical and electronic operations will be fully available with core operations staff and market participants on site,” it said in a statement.
At the same time, the U.S. Securities Industry and Financial Markets Association (SIFMA) is also recommending that fixed-income markets remain open through the storm. SIFMA says that its emergency function is in close communication with securities firms, exchanges, industry utilities, regulators and public sector emergency managers.
Schneiderman also issued a consumer alert warning both consumers and businesses about price gouging during major weather events.