The trading floor of the New York Stock Exchange reopened Tuesday in a largely symbolic step toward economic recovery, and stocks surged at the opening bell, even as the official U.S. death toll closed in on 100,000, a mark President Donald Trump once predicted the country would never see. With infections mounting rapidly in places like Brazil and India, a top global health official warned that the crisis around the world is far from over. The NYSE trading floor in lower Manhattan opened for the first time in two months, though with plexiglass barriers, masks and a reduced number of traders to adhere to the 6-foot social-distancing rules. Those entering the NYSE will have their temperatures taken and were asked to avoid public transportation. New York Gov. Andrew Cuomo, who has presided over the state with the highest death toll from the scourge, rang the bell to set off trading. “They didn’t reopen the way it was,” he said during his daily briefing. “They reopened smarter.” Stocks surged in morning trading, driving the S&P 500 to its highest level in 2 1/2 months on rising hopes for an economy recovery. The S&P 500 was up 2%, while the Dow Jones Industrial Average climbed more than 660 points, or 2.7%. Several thousand brokers and others used to crowd the trading floor of the NYSE as recently as the 1990s. But in the years since, the rise of electronic trading from computer terminals grew to dominate the action on Wall Street. These days, there are about 500 floor traders at the NYSE. The rally took place as the government reported that U.S. consumer confidence inched up this month, showing signs of stabilizing. Still, it remains near a six-year low in the face of the widespread business shutdowns that have sent the economy into recession and driven unemployment to levels last seen during the Great Depression. Over the past few days, rental car giant Hertz and South America’s biggest airline, Latam, filed for bankruptcy, joining the likes of J. Crew, J.C. Penney and Neiman Marcus. All 50 states have begun easing their stay-at-home restrictions and allowing businesses to open their doors again, even as some parts of the country see no drop-off in confirmed coronavirus cases. There is also some optimism about the race for a vaccine. “These little baby steps that we start to see different states reopening, different policies that are being allowed that weren’t allowed two weeks ago — these are all clear signals that we’re moving in the right direction,” said Jonathan Corpina, senior managing partner at Meridian Equity Partners. Worldwide, the virus has infected nearly 5.5 million people, killing over 346,000, according to a tally by Johns Hopkins University. Europe has recorded about 170,000 deaths, while the U.S. was approaching 100,000 over a span of less than four months, more than the number of Americans killed in the Vietnam and Korean wars combined. The true death toll is widely believed to be significantly higher, with experts saying many victims died of the virus without ever being tested for it. Trump several months ago likened the coronavirus to the flu and dismissed worries it could lead to so many deaths. The administration’s leading scientists have since warned that as many as 240,000 could perish from the virus. In hard-hit […]

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