Skip to footer

New York Stock Exchange will reopen Wednesday

After Hurricane Sandy closed down the New York Stock Exchange for two days, markets will reopen Wednesday. European stock markets rose broadly Tuesday after falling the day before.

|
Richard Drew/AP
The streets surrounding the New York Stock Exchange are deserted as financial markets remain closed for the second day due to superstorm Sandy, Tuesday. The New York Stock Exchange will reopen Wednesday.
  • By The Associated Press

| New York

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 because of weather. The earlier shutdown was caused by a massive snow storm.

Sections of Manhattan were inundated with water Tuesday and power was shut off to millions of people and businesses up and down the East Coast.

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.

European stock markets rose broadly Tuesday after falling the day before. Trading was subdued in the wake of the storm. Britain's FTSE 100 index rose 0.9 percent, Germany's DAX rose 1.1 percent and the CAC-40 in France was 1.5 percent higher.

Crude oil rose 14 cents to settle at $85.68 in electronic trading on the New York Mercantile Exchange.

U.S. bond trading was closed Tuesday.

Electronic trading for U.S. stock index futures was open, but trading volume was very light and the price moves were minuscule.

As of the regular close of trading at 9:15 a.m., Dow Jones industrial average futures rose 8 points to 13,062. S&P 500 futures added 3.50 points to 1,411.10. Nasdaq futures slipped 3.75 points to 2,655.25.

On Monday, when regular U.S. stock trading was also closed, stock index futures fell slightly.

You've read  of  free articles. Subscribe to continue.
Real news can be honest, hopeful, credible, constructive.
What is the Monitor difference? Tackling the tough headlines – with humanity. Listening to sources – with respect. Seeing the story that others are missing by reporting what so often gets overlooked: the values that connect us. That’s Monitor reporting – news that changes how you see the world.
editor@csmonitor.com
Subscribe
Mark Sappenfield
Editor

Dear Reader,

About a year ago, I happened upon this statement about the Monitor in the Harvard Business Review – under the charming heading of “do things that don’t interest you”:

“Many things that end up” being meaningful, writes social scientist Joseph Grenny, “have come from conference workshops, articles, or online videos that began as a chore and ended with an insight. My work in Kenya, for example, was heavily influenced by a Christian Science Monitor article I had forced myself to read 10 years earlier. Sometimes, we call things ‘boring’ simply because they lie outside the box we are currently in.”

If you were to come up with a punchline to a joke about the Monitor, that would probably be it. We’re seen as being global, fair, insightful, and perhaps a bit too earnest. We’re the bran muffin of journalism.

But you know what? We change lives. And I’m going to argue that we change lives precisely because we force open that too-small box that most human beings think they live in.

The Monitor is a peculiar little publication that’s hard for the world to figure out. We’re run by a church, but we’re not only for church members and we’re not about converting people. We’re known as being fair even as the world becomes as polarized as at any time since the newspaper’s founding in 1908.

We have a mission beyond circulation, we want to bridge divides. We’re about kicking down the door of thought everywhere and saying, “You are bigger and more capable than you realize. And we can prove it.”

If you’re looking for bran muffin journalism, you can subscribe to the Monitor for $15. You’ll get the Monitor Weekly magazine, the Monitor Daily email, and unlimited access to CSMonitor.com.

Subscribe to insightful journalism

QR Code to New York Stock Exchange will reopen Wednesday
Read this article in
https://www.csmonitor.com/Business/Latest-News-Wires/2012/1030/New-York-Stock-Exchange-will-reopen-Wednesday
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe