Stocks Mixed on First Trading Day After Sandy
(NEW YORK) — It was back to work for the U.S. markets Wednesday after an unplanned two-day break, thanks to Superstorm Sandy.
The Dow lost 11 points to close at 13,096, down 0.08 percent from Friday. The Nasdaq also gave up 11, closing at 2,977. The S&P gained a fraction, up 0.01 percent at 1,412.
Concerned about safety, NYSE Euronext had decided to close trading due to Superstorm Sandy for the last two days, the first time in over 100 years that stock trading was closed for two straight days due to weather.
Trading was light Wednesday, but analysts weren’t surprised. Earlier Wednesday, Guy LeBas, chief fixed income strategist with Janney Capital Markets, said the markets would be “subdued” by the logistics of traders getting to the office.
Meanwhile, October jobs report will be released as scheduled Friday, giving voters their last snapshot of the employment situation before Tuesday’s election. There had been concerns that Sandy might force the Labor Department to delay the release since federal offices have been closed the past two days.
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