U.S. indexes surrendered modest gains in midday trading on Wednesday as markets resumed following the longest weather-related closures since 1888.
Shortly after noon, the Dow Jones industrial average was down 19 points or 0.1 per cent, to 13,089 – or down about 100 points from its high point earlier in the day. The broader S&P 500 was down 3 points or 0.2 per cent, to 1409l.
In Canada, the S&P/TSX composite index was up 60 points or 0.5 per cent, to 12,437 – putting it on track for five consecutive days of gains.
In Europe, major indexes were mixed. The U.K.’s FTSE 100 was down 0.7 per cent in late trading, while Germany’s DAX index was up 0.2 per cent.
Within the S&P 500, health care stocks fell 0.8 per cent, technology stocks fell 0.5 per cent and energy stocks and materials were down 0.4 per cent each.
Utilities rose 0.7 per cent, industrials rose 0.4 per cent and financials rose 0.2 per cent.
Within Canada’s benchmark index, the gains were broad and continued a winning streak that has persisted this week, even when U.S. trading was suspended on Monday and Tuesday. Materials rose 1.4 per cent, industrials rose 0.9 per cent, financials rose 0.5 per cent and energy stocks rose 0.2 per cent.
Home Depot continued to benefit from a bet among investors that home improvement stocks will see a lot of business in the wake of Hurricane Sandy. The shares rose 2.6 per cent.
Walt Disney Co. fell 2.2 per cent after announcing that it would pay $4-billion (U.S.) for Lucasfilm, the maker of the Star Wars film franchise.
Ford Motor Co. rose 5.2 per cent after reporting strong quarterly earnings that topped analysts’ estimates.
Among commodities, crude oil rose to $86.73 a barrel, up $1.05. Gold rose to $1,723 an ounce, up $14.