Nearly ten weeks after being closed, the iconic floor of the New York Stock Exchange is reopening for business. Though the exchange has been trading virtually since its physical closure, the reopening of the floor is seen as a step towards returning to some level of normalcy. After undergoing temperature checks and donning facemasks, traders were allowed to return at 25% capacity.
Around the world, trading is coming back to life. Even amidst the pandemic, some transportation stocks rose as some countries began to lift barriers; as such, some investors began to warm up to the idea of investing travel companies. On Tuesday morning, European-airline Easyjet and Carnival Cruise Lines both rose over 11% on the London index, while Airbus was up 9.8% in New York.
The NYSE was quite eager to open the floor, even at a reduced capacity. “What we’re missing when we move to this model when we’ve shut the floor is the value of human judgment,” said New York Stock Exchange President Stacey Cunningham in a radio interview. Cunningham went on to clarify that while the stock market is not a surefire indicator of general economic health, she was glad to welcome some traders back into the building this week.