Stocks to reopen Wednesday; Disney inks a big deal

Updated: 5:46 p.m. ET.

Trading in U.S. stocks will resume Wednesday with the major exchanges planning regular trading hours.

The open will feature market reaction to a blockbuster media deal. Walt Disney (DIS) said late today it will buy Lucasfilm in a $4.05 billion deal. The company will pay half of the purchase price in cash and issue close to 40 million shares at the closing for the balance. Lucasfilm is the production company of Star Wars director George Lucas.

The New York Stock Exchange, American Stock Exchange and Nasdaq system were closed Monday and again today as Hurricane Sandy slammed into New York and New Jersey, causing power outages, flooding and even fires. Some 38 deaths are attributed to the storm. The New York subway system experience widespread flooding in its tunnels.

Gold (-GC) and crude oil (-CL) traded in U.S. markets moved modestly higher. The national average retail price of gasoline fell to $3.534 today, according to AAA's Daily Fuel Gauge Report from $3.543 a gallon on Monday. The price has fallen 6.7% this month.

The market will reopen after struggling last week. The Dow Jones industrials ($INDU) fell 1.8%. The Standard & Poor's 500 Index ($INX) was off 1.5%, and the Nasdaq Composite Index ($COMPX) slipped 0.6%.

Article continues below.When testing of generators and backup systems late Monday and today were successful,  the exchanges announced the reopening plans. Prices for stocks index futures trading moved higher in electronic trading today after falling on Monday. European markets were stronger.

There's been some decent data: Personal income was up in September; spending was up more, the government said Monday.

The S&P/Case-Shiller Home Price Index showed prices in 20 major markets rose 2% in August from August 2011, the biggest year-to-year gain in more than two years. The report suggested the housing recovery is advancing solidly.

But several big reports are ahead, especially the Labor Department's big jobs report due Friday.

Wednesday brings the ADP National Employment report and the Chicago Purchasing Managers Index. Thursday's reports include the weekly report on jobless claims and the Institute for Supply Management's U.S. manufacturing index.

When the markets do reopen, there will be some winners. Chief among them will be home-improvement retailers Home Depot (HD) and Lowe's (LOW). Both have been organizing inventory to sell once Sandy dissipates and rebuilding-and-repai​r efforts begin. Wal-Mart Stores (WMT), Target (TGT) and similar retailers should see more business from the rebuilding.

At the same time, property-casualty insurers are expected to be the losers, facing $5 billion to $10 billion in losses at the least.

Energy prices -- New York close
			Tues.			Mon.			Month chg.			YTD chg.
Crude oil (-CL)			$85.68			$85.54			-7.06%			-13.31%
(per barrel)
Heating oil (-HO)			$3.0697			$3.0873			-2.83%			5.34%
(per gallon)
Natural gas (-NG)			$3.6910			$3.8030			11.17%			23.49%
(per mil. BTU)
Unleaded gasoline (-RB)			$2.6155			$2.6411			-10.43%			-1.58%
(per gallon)
Brent crude			$108.86			$109.44			-0.63%			1.38%
(per barrel)
Retail gasoline			$3.5340			$3.5990			-6.68%			7.88%
(per gallon; AAA)

GM highlights Wednesday's reports; Ford has a decent quarter
General Motors (GM) reports third-quarter results on Wednesday. It should report decent sales for North America and sizable losses from its European businesses. 

GM said today that its northeast U.S. vehicle sales will be hurt by the hurricane, although it did not provide a specific estimate.

Rival Ford Motor (F) reported decent results overall and especially for its North American business, which had its best third quarter even Its European business is struggling. The company announced it is shutting down plants in Belgium and the United Kingdom.

Chrysler CEO Sergio Marchionne assured workers in a company-wide letter that Jeep assembly lines will remain in the U.S. after ads from the Mitt Romney campaign airing in hotly contested Ohio focused on the automaker's supposed desire to move production to China. A Chrysler blog post highlights details on its expansion plan in the U.S.

Also reporting: brewing-giant Anheuser Busch Inbev (BUD); Hyatt Hotels (H); credit-card processors Master Card (MA) and Visa (V), Metlife (MET), Ralph Lauren (RL) and gun-maker Strum, Ruger (RGR).

Apple turmoil may lead to stock gyrations
Apple (AAPL) may have a volatile day after reports that Scott Forstall, a key executive, was asked to leave the company after refusing apologizing for shortcomings in Apple's new mapping service.

The Wall Street Journal said the dispute between Forstall, who had been in charge of Apple's mobile business, led to one of the most significant management shake-ups in Apple's recent history and its most sweeping changes under CEO Tim Cook.

Apple announced Forstall's departure late Monday along with the departure of its new retail chief, John Browett. Sources told the Journal that Browett, who had joined the company only five months ago, was also asked to leave.

Brown's tenure was rocky from the start, The Journal said. A big issue was a new staffing formula that cut some employee hours. Apple may be up 49% for the year, but it's down 14% since peaking at $702.10 on Sept. 19.

A crummy October
Stocks had been struggling before the storm. The Dow is down 2.5% for the month. The S&P 500 is off 2%, and the Nasdaq  has dropped off 4.1%. 

If the indexes hold at current levels, the indexes will be down for the first time in five months. In the addition, the the Dow will be down for only the second month this year. The S&P 500 and Nasdaq will be down for just the third month.

Twelve of the 30 Dow stocks are higher, led by Travelers Companies (TRV), Bank of America (BAC) and Johnson & Johnson (JNJ). Hewlett-Packard (HPQ), DuPont (DD) and Cisco Systems (CSCO) are the laggards.

Coal-producer Peabody Energy (BTU), Netflix (NFLX) and coal-producer Consol Energy (CNX) are the S&P 500 leaders. Some 336 S&P 500 stocks are up for the month. Advanced Micro Devices, Mondelez International (MDLZ) and F5 Networks (FFIV) are the laggards.

Only 34 stocks in the Nasdaq-100 Index ($NDX) are higher for the month, led by Netflix (NFLX),  Sears Holdings (SHLD) and Lam Research (LRSX). For-profit college operator Apollo Group (APOL), F5 Networks and Dollar Tree (DLTR) are the laggards.

Short hits from the markets -- New York close
			Tues.			Mon.			Month chg.			YTD chg.
Treasury yields
13-week Treasury bill			0.1100%			0.110%			22.22%			1000.00%
5-year Treasury note			0.761%			0.761%			20.79%			-8.31%
10-year Treasury note			1.750%			1.750%			6.90%			-6.47%
30-year Treasury bond			2.918%			2.918%			-3.76%			1.00%
Currencies
U.S. Dollar Index			79.987			80.318			-0.05%			-0.66%
British pound			1.6080			1.6036			-0.50%			3.49%
(in U.S. $)
U.S. $ in pounds			£0.622			£0.624			0.50%			-3.37%
Euro in dollars			$1.30			$1.29			0.92%			0.12%
(in U.S. $)
U.S. $ in euros			€ 0.771			€ 0.775			-0.91%			-0.12%
U.S. $ in yen			79.81			79.80			2.36%			3.51%
U.S. $ in Chinese			6.26			6.24			-0.31%			-1.02%
yuan
Canada dollar			$1.001			$0.999			-1.53%			2.04%
(in U.S. $)
U.S. dollar			$1.000			$1.001			1.63%			-2.01%
(in Canadian $)
Commodities
Gold (-GC)			$1,712.10			$1,708.700			-3.48%			9.27%
(per troy ounce)
Copper (-HG)			$3.506			$3.495			-6.71%			2.04%
(per pound)
Silver (-SI)			$31.8160			$31.745			-7.99%			13.97%
(per troy ounce)
Wheat (-ZW)			$8.5875			$8.580			-4.85%			31.56%
(per bushel)
Corn (-ZC)			$7.4175			$7.370			-1.92%			14.73%
(per bushel)
Cotton			$0.7092			$0.726			0.38%			-22.64%
(per pound)
Coffee			$1.5720			$1.617			-9.39%			-31.55%
(per pound)
Crude oil (-CL)			$85.68			$85.540			-7.06%			-13.31%
(per barrel)