NYSE Expects Normal Open Wednesday After Storm

U.S. equity markets will reopen Wednesday after the longest weather-related shutdown in more than a century, resuming after the New York Stock Exchange was spared by Hurricane Sandy as it swept through New York Monday.

Bloomberg reports that the decision was announced in statements by NYSE Euronext, Nasdaq OMX Group Inc. and Bats Global Markets Inc. Earlier, NYSE spokesman Robert Rendine said floor and building of the exchange 'are fine'. Executives of the biggest U.S. equity venue expect a normal open, according to Eric Ryan, another spokesman.

U.S. exchanges are in the second day of a suspension called to safeguard workers as Sandy barreled up the East Coast, halting public transit and forcing hundreds of thousands of evacuations in New York City. NYSE Euronext’s building on Wall Street is close to the section of Manhattan that was deluged when the storm propelled a 13-foot sea surge last night.

'Everybody is keeping Wednesday in focus as we come into month-end', Ryan Larson, the Chicago-based head of U.S. equity trading at RBC Global Asset Management (U.S.) Inc., said in a telephone interview. His firm oversees $250bn. 'That will have implications for a variety of factors, which is why the exchanges are working behind the scenes to make sure trading regardless of the conditions is open'.

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