VIDEO: New York Stock Exchange reopens, Bloomberg rings bell

The New York Stock Exchange

Stocks edged higher on Wednesday in the first trading session since a massive storm in the Northeast forced a two-day market closure.

Trading was expected to be volatile as exchanges dealt with pent-up demand from two untraded days. This was the first time the stock market had closed for two straight days because of weather since a major blizzard in 1888.

Among the biggest gainers of the day were Ford Motor Co, which reported strong results during the market closure, and Home Depot, which rallied as people bought supplies to repair storm damage.
Ford gained 5 percent to $10.83 as the most-traded stock on the New York Stock Exchange while Home Depot, a Dow component, added 3 percent to $61.85.

The New York Stock Exchange and the Nasdaq shuttered operations on Monday, hours before Hurricane Sandy made landfall on the U.S. eastern seaboard with devastating consequences. Transport into and around New York City remained limited on Wednesday, while wide-scale power outages meant many would be unable to work from home.

“Liquidity remains very light in equities as there are a lot of empty seats on the Street,” said Dave Lutz, a Baltimore-based trader with Stifel, Nicolaus & Co. “We’re also seeing some outsized moves.”
The Dow Jones industrial average was up 59.10 points, or 0.45 percent, at 13,166.31. The Standard & Poor’s 500 Index was up 4.62 points, or 0.33 percent, at 1,416.56. The Nasdaq Composite Index rose 1.45 points, or less than 0.1 percent, at 2,989.4.

Industrial stocks were the strongest on the day, rising 1 percent as investors bet the group would see additional demand from rebuilding efforts after the storm. The KBW Insurance sector fell 0.1 percent.
Ford posted a third-quarter profit that trounced analysts’ forecasts on Tuesday, driven by higher vehicle prices and record profit margins of 12 percent in North America. Wednesday will be the first day investors will be able to trading on the earnings.

General Motors reported earnings Wednesday that beat expectations, sending shares up 5.4 percent to $24.54.

Among the most active Nasdaq stocks, Apple Inc slumped 2 percent to $591.69. The company announced management changes during the market closure.

Walt Disney Co agreed to buy filmmaker George Lucas’s Lucas film Ltd and its “Star Wars” franchise for $4.05 billion in cash and stock, a blockbuster deal that includes the surprise promise of a new film in the series in 2015. Disney, a Dow component, edged 0.2 percent lower.

Investors will be looking ahead to Friday’s U.S. nonfarm payrolls report, the last before the November 6 presidential election, which is expected to show 125,000 jobs added in October, up 11,000 from the previous month.



News
Entertainment
Sports
Lifestyle
Local

Brooklyn man charged in roommate's stabbing death

A Brooklyn man accused of violently stabbing his roommate to death on Monday is in police custody and faces murder charges.

International

Dinosaurs could have survived asteroid strike

It turns out there is a good and a bad time for the planet to be hit by a meteor, and dinosaurs were just unlucky.…

National

OkCupid admits to Facebook-style experimenting on customers

By Sarah McBrideSAN FRANCISCO (Reuters) - OkCupid, a top U.S. matchmaking website, intentionally mismatched users to test its technology, the IAC/InterActive Corp service said on…

Local

MTA fares still increasing 4 percent in newly…

The agency said the 4 percent increases, previously announced in December, will remain steady even as the MTA deals with increasing labor costs.

Movies

Interview: Brendan Gleeson on the way 'Calvary' depicts…

Brendan Gleeson talks about how his new film "Calvary" began over drinks and how his character here is the opposite of the lead in "The Guard."

Movies

'Get on Up' producer Mick Jagger on the…

Mick Jagger, a producer on the James Brown biopic "Get on Up," talks about the time had to tell the singer some bad news and his favorite JB record.

Television

'Glee' star Lea Michele to appear on 'Sons…

"Glee" star Lea Michele has been confirmed as a guest star in the final season of "Sons of Anarchy."

Television

TV watch list, Monday, July 28: 'The Bachelorette'…

See Andi Dorfman make her big choice on tonight's 'Bachelorette' finale.

MLB

Angelo Cataldi: Ryan Howard deserves better from Phillies

Just last week, Ryan Howard endured the embarrassment of a benching that was inevitable, and yet still shocking.

NFL

Larry Donnell has inside track in Giants tight…

Little-known Larry Donnell of Grambling State currently has the inside track, as the second-year player has received the bulk of the first-team reps.

NFL

Computer to Jets: Start Michael Vick over Geno…

Jets general manager John Idzik says the choice of who starts between second-year quarterback Geno Smith and veteran Michael Vick will be a “Jets decision.”

MLB

Yankees looking to trade for Josh Willingham: Report

CBS Sports’ Jon Heyman reported Sunday the Yankees are interested in Twins outfielder Josh Willingham.

Travel

Glasgow: Hey, hey, the gangs aren't here

This European city has done a good job getting rid of its more violent residents and revitalizing with artists.

Education

Babson College tops list of best colleges for…

Money magazine has just released its inaugural list of "The Best Colleges for Your Money" -- and the answers have surprised many. Babson College, which…

Education

NYC teens learn how to develop apps during…

Through a program sponsored by CampInteractive, the high schoolers designed their own community-focused apps.

Tech

The Ministry of Silly Walks app is both…

Monty Python have dug into their back catalogue for cash-ins once more, but with the Ministry of Silly Walks app, they've made something that's fun too.