NYSE weathers the storm; Bill Ackman ditches Valeant; Pound hammered

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1. Storm-shwarm: A major snowstorm hitting the East Coast of the U.S. has put 31 million people under a blizzard warning.

But it's going to be business as usual at the New York Stock Exchange. A spokesperson from the exchange said it has "business continuity plans in place to manage all manner of weather conditions."

The market was closed for two days during Superstorm Sandy in 2012. But that's a rare occurrence.

The Nasdaq also appeared ready to open normally on Tuesday.

2. Gravity sets in: Even if markets are open, the mood may not be upbeat.

U.S. stock futures were dragging down a bit.

European markets were mostly negative in early trading, though the losses were modest.

Asian markets ended with mixed results. India's Sensex was the region's top performer with a 1.7% gain.

U.S. markets were muted on Monday. The Dow Jones industrial average dipped 0.1%, the S&P 500 was essentially flat and Nasdaq rise 0.2%.

Oil prices will also be in focus Tuesday when oil cartel OPEC releases its monthly market update.

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3. Bill Ackman ditches Valeant: Shares in Valeant Pharmaceuticals (VRX) are set to get crushed when trading begins.

The hedge fund Pershing Square -- run by billionaire investor Bill Ackman -- announced late on Monday that it had sold its stake in the firm.

Pershing Square said "the investment required a disproportionately large amount of time and resources... [The sale] will enable us to dedicate more time to our other portfolio companies and new investment opportunities."

Shares in Valeant closed at $12.11 on Monday. They had been trading well above $250 back in 2015.

4. Pounded: The British pound was lower against all major currencies as investors reacted to the latest Brexit developments.

The British Parliament has passed a bill that will allow Prime Minister Theresa May to launch talks to leave the European Union.

May is expected to trigger the official start of negotiations before the end of March.

5. Earnings, or lack thereof: Toshiba (TOSYY) has delayed its earnings report for a second time citing "difficult circumstances."

The struggling Japanese conglomerate said it needs more time to investigate ongoing troubles at its U.S. nuclear business. A spokesperson at the firm also told CNN it's considering a sale of the business unit after it caused the firm billions of dollars in losses.

Earnings from Hostess Brands (TWNK) and Rosetta Stone (RST) are expected after the U.S. close.

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6. Coming this week:

Tuesday - Federal Reserve two-day meeting kicks off; Hostess Brands (TWNK) report earnings
Wednesday - Fed expected to announce rate hike; Election in The Netherlands
Thursday - Trump travel ban takes effect; Dollar General (DG) reports earnings
Friday - G20 meeting for finance ministers and central bankers

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