The News Courier in Athens, Alabama

State and Nation

October 30, 2012

New York Stock Exchange will reopen Wednesday

— NEW 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. 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.

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