In a rare two-day shutdown, U.S. markets and exchange traded funds paused at the start of the week after Hurricane Sandy raged across the Northeast and flooded the New York Stock Exchange, but stepped back into normal trading for the last three days.
The Dow Jones Industrial Average was up 0.5% for the week in afternoon trading while the Nasdaq Composite rose 0.6% and the S&P 500 was up 0.8%.
Once the U.S. markets opened on Wednesday, equities traded listlessly in rather calm sessions for the remainder of the week. Nevertheless, some sectors, like homebuilders and consumer spending, gained in the wake of the Sandy on increased spending to replace and repair property in light of the extensive damages. [Five ETF Sectors to Watch After Hurricane Sandy]
On Friday, the new payroll numbers were better-than-expected, indicating strong job creation momentum and an improving economy.
Oil and other related energy commodities weakened over the week after oil consumption came to a standstill across the Northeast.