Reuters - Video

EDITION: U.S. | U.K. | IN

Video

Wall Street gets ready for business

Tuesday, October 30, 2012 - 02:23

Oct. 30 - U.S. stock markets are expected to get back on their feet on Wednesday with a reopening of the New York Stock Exchange after the worst storm to hit New York City since 1938 left the major financial district without power and under water.

▲ Hide Transcript

View Transcript

U.S. financial markets will re-open on Wednesday after being crippled for two days by the worst storm to hit New York City in 75 years. Even with the neighborhood surrounding the New York Stock Exchange still without power and parts under water, NYSE Euronext Chief Operating Officer Lawrence Leibowitz says it's time for Wall Street to get back to work. SOUNDBITE: LAWRENCE LEIBOWITZ, CHIEF OPERATING OFFICER, NYSE EURONEXT (ENGLISH) SAYING BY PHONE: "The world is looking at the U.S. financial markets and in many ways the world is looking at the New York Stock Exchange. When you turn on the television that's what you see and we need to prove that the markets are operating and functioning and people can do their business and capital can flow and all those things happen and so that every day that ticks by makes it feel like, what's going on here?" The decision to re-open was not the NYSE's alone. Conversations and testing have been going on all day. Its cross-town rival, The Nasdaq is on board, and so are the Wall Street firms who have been pushed out of their normal trading floors by the disaster. SOUNDBITE: LAWRENCE LEIBOWITZ, CHIEF OPERATING OFFICER, NYSE EURONEXT (ENGLISH) SAYING BY PHONE: "We want to make sure that our customers can actually get to us. So sometimes that could be our side, so maybe we have a Verizon problem coming into the building, sometimes it could be their side and we want to make sure that everybody has gone in and tested all of their routes and their alternate routes to make sure they have a way to get to us. We were doing both of those test plans at once." But there's more to saving face here. The exchanges are losing $1 million a day, according to Sandler O'Neill. And there's a lot of information to trade on for the rest of the week says, Craig Dismuke, Senior VP of Vining Sparks in Memphis, Tennessee. SOUNDBITE: CRAIG DISMUKE, SENIOR VICE PRESIDENT, VINING SPARKS (ENGLISH) SAYING: "For example, Thursday's ADP report on employment, the ISM manufacturing report on Thursday, Friday's employment data and so its, we like to, it wouldn't be ideal to have three days where we are closed and then get that much economic data coming in and have a lot of pent up trading, I think you could see a lot of volatility." And there's one more important reason the doors of the NYSE and equity markets need to be open on Wednesday. It's the end of the month and the end of the fiscal year for many mutual funds, and portfolio managers need to make those final trades. The question remains, with NYC's infrastructure still hobbled will there be enough hands on deck to handle any technical snafus?

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Wall Street gets ready for business

Tuesday, October 30, 2012 - 02:23

Top News »

Most Popular »

Retirement »

Investing 201 »

Bond investors brace for the end of Fed stimulus Bond investors brace for the end of Fed...

Fri, Oct 10, 2014 - (4:03)

Arian Foster = BlackBerry? Arian Foster = BlackBerry?

Fri, Oct 25, 2013 - (3:16)

Don’t miss these red flags for IPOs Don’t miss these red flags for IPOs

Thu, Oct 10, 2013 - (2:34)

Copycat currency trading Copycat currency trading

Wed, Oct 02, 2013 - (2:28)

When to dump a winner When to dump a winner

Tue, Sep 24, 2013 - (1:55)

Where gold might again attract Jim Rogers Where gold might again attract Jim Rogers

Thu, Sep 19, 2013 - (2:05)

Why savings interest rates won't budge Why savings interest rates won't budge

Fri, Sep 13, 2013 - (2:09)

Buy local? ETFs try the trend Buy local? ETFs try the trend

Thu, Sep 05, 2013 - (2:42)

The better bond funds The better bond funds

Wed, Aug 07, 2013 - (2:40)

Best bargain in 40 years? European stocks Best bargain in 40 years? European stocks

Thu, Aug 01, 2013 - (2:24)

Invest like an activist Invest like an activist

Fri, Jul 26, 2013 - (2:49)

Why bruised Brazil is a buy Why bruised Brazil is a buy

Fri, Jul 19, 2013 - (2:48)

3 ways to fix your bond portfolio 3 ways to fix your bond portfolio

Thu, Jul 11, 2013 - (3:10)

The next gold? Diamonds lure investors The next gold? Diamonds lure investors

Wed, Jul 03, 2013 - (2:38)

How to play the Fed’s tapering timeline How to play the Fed’s tapering timeline

Thu, Jun 20, 2013 - (2:34)

How to play banker on the web How to play banker on the web

Tue, Jun 11, 2013 - (2:57)

3 surprises about the 2013 stock rally 3 surprises about the 2013 stock rally

Fri, May 24, 2013 - (2:11)

How to cash in on lawsuits - Investing 201 How to cash in on lawsuits - Investing 201

Tue, Apr 30, 2013 - (2:30)

Rising dollar will drive stocks higher Rising dollar will drive stocks higher

Wed, Apr 10, 2013 - (2:32)

A little-known path to big dividends - Investing 201 A little-known path to big dividends -...

Thu, Apr 04, 2013 - (3:16)

What exactly does Warren Buffett own? - Investing 201 What exactly does Warren Buffett own? -...

Thu, Feb 14, 2013 - (0:51)

Big short bets: Where are they now? - Investing 201 Big short bets: Where are they now? -...

Fri, Dec 21, 2012 - (2:33)

Money Clip »

How to get out of debt How to get out of debt

Thu, Oct 30, 2014 - (3:37)

Will Apple Pay transform mobile payments? Will Apple Pay transform mobile payments?

Thu, Oct 16, 2014 - (2:45)

3 things to do before disaster strikes 3 things to do before disaster strikes

Wed, Sep 18, 2013 - (1:39)

Your must-do money list Your must-do money list

Wed, Sep 11, 2013 - (1:24)

The worst "best" financial advice The worst "best" financial advice

Wed, Sep 04, 2013 - (1:42)

Forget gold: The case for REITs Forget gold: The case for REITs

Fri, Apr 26, 2013 - (1:19)

3 rules for buying a house now 3 rules for buying a house now

Thu, Apr 18, 2013 - (1:39)

“Stalking” your dream home - Money Clip “Stalking” your dream home - Money Clip

Wed, Mar 27, 2013 - (2:50)

3 hidden tax deductions - Money Clip 3 hidden tax deductions - Money Clip

Thu, Mar 21, 2013 - (1:33)

How to break your prenup - Money Clip How to break your prenup - Money Clip

Thu, Mar 07, 2013 - (1:18)

Watch your wallet on Pinterest - Money Clip Watch your wallet on Pinterest - Money Clip

Thu, Feb 21, 2013 - (1:33)

Get set for the big bull run - Money Clip Get set for the big bull run - Money Clip

Thu, Jan 24, 2013 - (3:41)

Moving Pictures »

Real-life superheroes Real-life superheroes

Tue, Oct 28, 2014 - (1:44)

Dance of the northern lights Dance of the northern lights

Mon, Oct 20, 2014 - (1:08)

Images of September Images of September

Wed, Oct 01, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, Sep 05, 2014 - (2:05)

Burning Together Burning Together

Mon, Sep 01, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Thu, Jul 03, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)

World Cup: Around the globe in 50 goals World Cup: Around the globe in 50 goals

Fri, Jun 06, 2014 - (1:08)

VIVID – Sydney’s spectacle of light VIVID – Sydney’s spectacle of light

Fri, May 30, 2014 - (1:37)

The week that changed Boston The week that changed Boston

Mon, Apr 14, 2014 - (3:28)

360° snapshot of life in Kabul 360° snapshot of life in Kabul

Fri, Apr 04, 2014 - (1:26)

A blind teenager, living with vision A blind teenager, living with vision

Thu, Mar 27, 2014 - (3:51)

TIMELAPSE: Backstage at the Oscars TIMELAPSE: Backstage at the Oscars

Wed, Mar 05, 2014 - (2:49)

TIMELAPSE: Lunch with Oscar nominees TIMELAPSE: Lunch with Oscar nominees

Wed, Feb 12, 2014 - (2:55)

Sochi Highlights: Let the games begin Sochi Highlights: Let the games begin

Fri, Feb 07, 2014 - (0:40)

TIMELAPSE: On the Golden Globes red carpet TIMELAPSE: On the Golden Globes red carpet

Tue, Jan 14, 2014 - (3:28)

Pictures of the Year 2013 Pictures of the Year 2013

Fri, Dec 20, 2013 - (3:03)

Marching to the beat of Sousa's drum Marching to the beat of Sousa's drum

Thu, Dec 05, 2013 - (6:11)

The Gettysburg Address The Gettysburg Address

Thu, Nov 28, 2013 - (2:31)

Making Gruyere: A family affair Making Gruyere: A family affair

Wed, Oct 16, 2013 - (5:06)

Abortion: After the decision Abortion: After the decision

Tue, Sep 17, 2013 - (5:46)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Lessons of the Jihad Jane case - Reuters Investigates Lessons of the Jihad Jane case - Reuters...

Sun, Dec 09, 2012 - (3:43)

Exclusive: Jihad Jane in her own words Exclusive: Jihad Jane in her own words

Sat, Dec 08, 2012 - (4:11)

Attorney: How a Maryland teenager became radicalized - Reuters Investigates Attorney: How a Maryland teenager became...

Fri, Dec 07, 2012 - (4:21)

Counselor: Jihad Jane at 17 - Reuters Investigates Counselor: Jihad Jane at 17 - Reuters...

Thu, Dec 06, 2012 - (4:17)

Dateline Asia »

Breakingviews: Fleeting QE gains bring emerging market pains Breakingviews: Fleeting QE gains bring...

Wed, Oct 29, 2014 - (2:05)

Regulatory clarity needed on China stock connect -StanChart Regulatory clarity needed on China stock...

Mon, Oct 27, 2014 - (2:56)

Breakingviews: HK-Shanghai disconnect disappoints on reform Breakingviews: HK-Shanghai disconnect...

Sun, Oct 26, 2014 - (2:46)

Asia Week Ahead: Honda air bag crisis to deflate earnings? Asia Week Ahead: Honda air bag crisis to...

Fri, Oct 24, 2014 - (1:52)

FACTBOX: Japan's Abe loses two female ministers in one day FACTBOX: Japan's Abe loses two female...

Mon, Oct 20, 2014 - (1:20)

Breakingviews: Indonesia's Jokowi has a parliament problem Breakingviews: Indonesia's Jokowi has a...

Sun, Oct 19, 2014 - (2:19)

Investment Strategies: Don't worry, buy emerging markets Investment Strategies: Don't worry, buy...

Thu, Oct 16, 2014 - (3:58)

Breakingviews: Worse troubles than Agile brewing in China Breakingviews: Worse troubles than Agile...

Sun, Oct 12, 2014 - (2:35)

NBA's Brooklyn Nets hope to boost global profile in China NBA's Brooklyn Nets hope to boost global...

Fri, Oct 10, 2014 - (4:09)