Northeast, NYC Brace for Massive Blizzard

Winter storm Juno is starting to wreck havoc on New York City and the surrounding areas. Blizzard warnings have been issued for New York City, Southern New York State, Boston and parts of 6 other states. In advance of the storm, five governors have declared states of emergencies - Connecticut, Massachusetts, New Jersey, New York and Rhode Island. At least 28 million people could see blizzard conditions and millions others heavy snow. The storm is expected to dump 18-24 inches of snow over the next 24 hours. Snowfall rates of 2 to 4 inches per hour are expected from late tonight into Tuesday.

New York City Mayor Bill de Blasio warned people to refrain from travel as the storm’s intensity worsens this afternoon and through Tuesday. The mayor will issue a local Winter Weather Emergency Declaration restricting travel in all cases except emergencies beginning at 11 PM Monday.

“Our message to New Yorkers is to not underestimate this storm. Make preparations to get home this afternoon before the worst of the storm hits. The combination of heavy snow and wind will make travel dangerous. We need cars off the road so that our equipment can do its work and keep streets passable for emergency vehicles. This will be mandatory at 11 PM tonight,” said Mayor de Blasio.

The impact from the storm can already be felt on Wall Street with trading desks thinning out considerably this afternoon. Meanwhile, the NYSE said they plan to remain open despite the storm. Other exchanges have followed suit.

A number of companies, including Dow component United Technologies Corp. (NYSE: UTX), have rescheduled their earnings reports due to the storm. United Technologies will report results after the close tonight versus its originally scheduled report for Tuesday before the open.

Hundreds of flights have been cancelled in the Northeastern part of the country amid the storm.

Meanwhile, stocks benefiting from the storm included: Generac Holdings Inc. (NYSE: GNRC) (+4.4%), Douglas Dynamics, Inc. (NYSE: PLOW) (+2.2%), The Home Depot, Inc. (NYSE: HD) (+0.9%), Lowe's (NYSE: LOW) (+1%).

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