Expect a Wild Session as Wall Street Opens

As Wall Street prepares to re-open for business on Wednesday, investors should prepare for a “wild session” before earnings reports could subdue the markets again, Michael Yoshikami, founder & chief executive of Destination Wealth Management, told CNBC.
After two days of closures for Wall Street as Superstorm Sandy wrought havoc, U.S. stock exchanges are preparing to re-open on Wednesday — the last day of trading in November when traders and fund managers assess stocks and value holdings for investor and regulator reports.

“It should be a wild session,” Yoshikami told CNBC Europe’s “Squawk Box”. “It’ll be interesting to see what the volume is like but I expect significant volatility.”

“Fortunately we have earnings postponed by a number of companies until Thursday or Friday but it should be a wild session.”

Despite extensive flooding in New York affecting transport into the city, Wall Street experts told Reuters on Tuesday that there could be a dangerous back up in customer orders and damage done to confidence in the U.S. markets if they remained shut.

Confidence has already been hit in recent months because of trading glitches, a botched Facebook IPO and inexplicable market swings.

Speaking to CNBC from San Francisco, Yoshikami said that investors should expect “a down day in the market” on Wednesday.

Read more: http://www.cnbc.com/id/49618987