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
National

Mutant worms stay sober, even on alcohol

U.S. researchers have developed "mutant worms" that do not get drunk by alcohol, a breakthrough that could lead to new treatment for people trying to quit drinking

Local

K-9 nose helps capture $150K in cocaine at…

A furry, four-legged security agent helped authorities stop an illegal cocaine shipment from sneaking past JFK customs.

National

Minnesota man asked to leave Southwest flight after…

A man and his two sons were asked to leave a Southwest Airlines flight after the man sent a tweet complaining about being treated rudely by a gate agent.

National

Man sues hospital after surprise penis amputation

An Alabama man who went in to a hospital last month for a circumcision awoke after surgery to find his penis had been amputated, his lawyer said on Thursday.

Movies

Review: Brett Ratner's big 'Hercules' movie is small…

The latest "Hercules," starring Dwayne Johnson as the half-god beefcake of Greek myth, strips its hero and tale of most of its fantastical elements.

Arts

Scientists recreate world's smallest Monet copy

Scientists have reproduced a famous Impressionist painting using nano-printing, to create what has been described as the world's smallest work of art. Reworked at the…

Television

Jerry Seinfeld is ambidextrous, and other Reddit AMA…

See some of the weirder highlights of Jerry Seinfeld's recent Reddit AMA.

Going Out

Grab a pedestrian and start dancing at What…

As a New Yorker, I’ve mastered the art of focusing my gaze straight ahead. Though it occasionally piques my interest, the absurdities that play out…

U.S. Soccer

Orlando City takes shot at NYCFC over Frank…

Orlando City reminded the world how big a signing Brazilian star Kaka earlier this month with a photo of Kaka mobbed by fans juxtaposed against Lampard.

NBA

Jeremy Lin says 'Linsanity' is over as he…

Jeremy Lin lit up the NBA two years ago with his play for the Knicks but he has no desire to recreate "Linsanity" in his new career with the Lakers.

NFL

2014 NFL Fantasy Football Top 100 overall player…

2014 NFL Fantasy Football Top 100 overall player rankings

U.S. Soccer

NYCFC announce signing of Frank Lampard

The tease of a big signing Thursday by new MLS side NYCFC ended up being one rumored for weeks. England midfielder Frank Lampard agreed to…

Tech

Forget Wi-Fi: Li-Fi could be the future

Li-Fi technology – developed by Mexican company Sisoft – is wireless internet connectivity using specialized LED light.

Tech

Weather app Climendo might be the most accurate…

The wait for a truly accurate weather forecast could finally be over thanks to a nifty new app called Climendo.

Tech

Napkin Table puts focus off the phone and…

Michael Jan, a design student at Tunghai University in Taiwan, has invented a serviette-picnic blanket hybrid called the Napkin Table.

Style

Essie's new Color Boutique

Essie launches high-tech kiosks at major airports and malls across the country.