New York Stock Exchange Will Reopen Wednesday

New York Stock Exchange closedNEW YORK (AP) - The New York Stock Exchange will reopen for regular trading Wednesday after being shut down for two days because of Hurricane Sandy.

The exchange said in a statement Tuesday that its building and trading floor are fully operational and that normal trading will resume at the usual starting time of 9:30 a.m.

There had been erroneous reports Monday that the exchange floor had flooded. Exchange spokesman Ray Pellecchia said the exchange's building did not have any flooding or damage.

Tuesday marks the first time since 1888 that the NYSE remained closed for two consecutive days due to weather. The last time was due to a massive snow storm.

Sections of Manhattan were inundated with water and power was shut off to thousands of people and businesses.

Dozens of companies have postponed earnings reports this week because of the storm, but Ford Motor Co. (F) did release results for the third quarter that topped Wall Street expectations.

Ford's revenue fell 3 percent to $32.1 billion because of the economic crisis in Europe and falling sales in South America. The company exceeded Wall Street's revenue forecast of $31.5 billion largely because of North America, where revenue jumped 8 percent.

Global markets rebounded Tuesday though trading was subdued in the wake of the storm that pounded Wall Street, in addition to a broad swath of the East Coast.

In Europe, the FTSE 100 index of leading British shares was up 0.9 percent. Germany's DAX rose 0.9 percent and the CAC-40 in France was 0.8 percent higher.

Crude oil rose 11 cents to $85.63 Tuesday in electronic trading on the New York Mercantile Exchange.

U.S. bond trading was also closed Tuesday.

Stock index futures trading closed at 9:15 a.m. Eastern Tuesday, though volume was very light. Dow Jones industrial futures rose 8 points to 13,062. The broader S&P futures added 3.50 points to 1,411.10. Nasdaq futures slipped 3.75 points to 2,655.25.

Earlier in Asia, trading was mixed. Japan's Nikkei 225 index fell 1 percent to close at 8,841.98. South Korea's Kospi index rose 0.4 percent to 1,899.58 but Hong Kong's Hang Seng index fell 0.4 percent to 21,428.58. Benchmarks in mainland China also rose.


Increase your money and finance knowledge from home

What are Penny Stocks

The lucrative and dangerous world of penny stocks.

View Course »

Investment Strategies

What's your investing game plan?

View Course »

Add a Comment

*0 / 3000 Character Maximum

16 Comments

Filter by:
charukambo

thank goodness the money was safe

October 31 2012 at 9:29 AM Report abuse rate up rate down Reply
Bill Roy

With the massive cleanup effort that is going to be needed this would be the perfect opportunity for the unemployed folks that have been taking government handouts for three years to give back to their country. The exercise would be good too after sitting around watching television for so long.

October 31 2012 at 8:40 AM Report abuse rate up rate down Reply
eastorbuny

The greedy never sleep...

October 31 2012 at 1:58 AM Report abuse -1 rate up rate down Reply
kayedae

Hope everyone of the 'victims' (as Romeny would say) get out and vote. I'm sure all the people who were flooded or whose houses burned are now official 'victims' according to Romney, so remember that when voting. His money stash is safely in the Caymans and Switzerland. While all the people in the city have to try and dry out or kayak to work! Vote Obama and give Romney (Mittens) and his ilk the bums rush in Nov!!!

October 31 2012 at 1:12 AM Report abuse -2 rate up rate down Reply
wbieber

What's the big deal, take the rest of the week off.

October 31 2012 at 12:34 AM Report abuse rate up rate down Reply
Diane

?? Seems to me lots of construction jobs.. clean up crews .. new cars and new homes that are going to be needed should boost the economy???

October 30 2012 at 10:40 PM Report abuse rate up rate down Reply
Jimmy

Shut it down. Many places around the globe do not even use the old system which waste space in this rocket/space age so the use of the trading space should be memobilia of the past just like the London's telephone booth or even the London Taxi is becoming obsolete. Having a store fronts is expensive and outdated way to do business. Many newspapers are forced to shut down due to paper waste which resulting in many printing press going out of business. Even the use of a pen is becoming more rare these days. No more long lines at the Bank Teller nor the needs to buy a stamp using snail mail that can be lost. Hmm..What else is new?

October 30 2012 at 7:30 PM Report abuse rate up rate down Reply
William

Gov. employee's ( Democreats) Example: DOT 15 workers = 1 working- 14 watching = 15 , Mismanagement at the top ,lead by example, unmanaged at the bottom. Its a crime.

October 30 2012 at 7:22 PM Report abuse +2 rate up rate down Reply
1 reply to William's comment
gymbo bogymm

True....

October 30 2012 at 7:41 PM Report abuse rate up rate down Reply
Ken

hope obama and biden join the long line of the unemployed

October 30 2012 at 6:30 PM Report abuse +3 rate up rate down Reply
yuccapucka

The Stock Market must have been build on high ground. Won't millions of rats escaping from underground flooding be trying to get into the stock exchange building to save themselves from drowning?

October 30 2012 at 6:20 PM Report abuse rate up rate down Reply
2 replies to yuccapucka's comment
mysticherps

they are there everyday allready..... except a couple....... so yes, they will be in there

October 30 2012 at 8:46 PM Report abuse +2 rate up rate down Reply
eastorbuny

You mean it's gonna be just another normal day?

October 31 2012 at 2:00 AM Report abuse rate up rate down Reply