Wall Street reopens with mild gains after being shut for two days

The author has posted comments on this articleAP | Oct 31, 2012, 07.46PM IST

NEW YORK: Wall Street is getting back to work. Trading resumed on the New York Stock Exchange on Wednesday after being closed for two days because of Hurricane Sandy. New York mayor Michael Bloomberg ran the opening bell.

The exchange is running on backup generators since power is out in large parts of downtown Manhattan. The last time the exchange was closed for two days for weather was in 1888.

The market got off to a good start after the shutdown. The Dow Jones industrial average rose 70 points to 13,177 shortly after the opening bell.

The Standard & Poor's 500 index rose five points to 1,417. The Nasdaq composite slipped two points to 2,985. General Motors rose 4 per cent to $24.10 after reporting earnings that beat Wall Street's forecasts.

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