Oct 31 - Traders are expecting a volatile trading session when stock exchanges reopen, as some funds mark their fiscal year-end.
▲ Hide Transcript
▶ View Transcript
Traders heading back to work today at the New York Stock Exchange after two days of closures thanks to super -- sandy. Let's begin your Wednesday morning call. US stock futures are pointing to a higher open today with S&P futures up nine point 4%. We're expecting a volatile trading session as some funds marked their fiscal year and the volumes are expected to be muted. Many workers still struggling to get back to work trains and subways are running in New York City as many areas still flooded and thousands without power. The NASDAQ also resumes trading today as -- the bond markets sticking with sandy let's take some stocks directly or indirectly impacted by the storm. -- Home Depot shares are up nearly 4% in the premarket. Expected surge in sales as people run to the store for -- generators such. Next we have insurer Allstate with homes damaged or burned at the cat forecasts insured losses. At five to ten billion dollars for the northeastern states. We're also keeping an eye on utility companies like Con Ed. Shares are expected to fall sharply at the open with thousands of people around New York City still without power folks -- continent will be busier than usual. Telecom companies suffering from sandy is well Verizon which serves many of the states hurricane's path. May have seen some of the worst damage to its land line network. And last but not least caterpillar shares seeing a bump in price. With damage to roads bridges tracks and tunnels were going to see a lot more of their machines that work. Made -- -- will be with you Disney said to -- filmmaker George Lucas's production house Lucas film and its Star Wars franchise. -- little over four billion dollars in cash and stock. The most exciting part of the deal however is that Disney plans to release at least three more films in the Star Wars -- saga. It is for some fans traveling for those who thought the last three installments ruin the franchise. This picture of the Star Wars creator with Disney chief Bob tiger are likely haunting those fans this Halloween morning. Disney stock has seen a steady climb upward this year. The agreement will make George Lucas the second largest individual holder of Disney shares with 82 point 2% stake. Some -- result out later today including GM the auto maker expects to see current quarter sales in the northeast take it from sandy. Also have earnings on tap from Clorox MasterCard visa and Time Warner Cable later today. That's -- -- Wednesday morning call for more news follow us on Twitter at Reuters Insider and check out our -- YouTube channel at Reuters dot com slash Reuters TV. I'm Lisa Bernhard this is writers.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code