NYSE will open as scheduled on Tuesday

The New York Stock Exchange will open as scheduled on Tuesday, a spokesman said, as a snow storm that effectively shut down New York City was downgraded from a blizzard to a winter storm in the immediate metro area.

NYSE spokesman Eric Ryan said it would be "business as usual" at one of Wall Street's main trading hubs.

Electronic trading of U.S. equity index futures was underway, with about 90,000 contracts of S&P 500 e-mini futures having been traded by about 7 a.m. ET (1200 GMT).