Airlines said they planned to restart service Tuesday at some East Coast airports, including Boston and Philadelphia.
As our thoughts remain with all those who have been horribly affected by the devastation that hit the U.S. Eastern seaboard and its aftermath, we are being asked about the implications of Hurricane Sandy for markets
Superstorm Sandy slammed into the U.S. east coast on Tuesday and hurled a record 14-foot surge of seawater at New York City, flooded the financial district and left 7 million people without power.
*Seven major New York bridges closing; two tunnels closed. *Rail, container ports closed in New York, New Jersey. New York said it would close seven major bridges at 7 p.m. EDT on Monday, including the George Washington Bridge and the Verrazano-Narrows Bridge.
*UPS, FedEx widely viewed as economic bellwethers. The world's largest package delivery company, and rival FedEx Corp, are closely watched for indications of consumer demand, the health of retailers and the state of the economy.
Sandy has made landfall along the coast of southern New Jersey. While downgraded to a post-tropical cyclone, it still has sustained winds of 85 mph.
Hurricane Sandy began veering as predicted early Monday on a path that would take it over Washington, Baltimore, Philadelphia and New York putting it on a path that could endanger 50 million people.
Warren Buffett appeared live on CNBC's Squawk Box for a two-hour interview with Becky Quick. During their conversation, Buffett said there's "no question" the global economy is slowing and he's "salivating" for Berkshire Hathaway to make a "big acquisition." Here's a transcript of their complete conversation, along with video clips.
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*DuPont drops sharply on results, UTX modestly lower. NEW YORK, Oct 23- U.S. stocks fell on Tuesday, driving the Dow industrials to the biggest drop since June 21, as weak results from index members DuPont and United Technologies showed profit growth is slowing.
*DuPont, 3 M, United Tech, UPS miss revenue forecasts. *DuPont, 3 M Co cut profit forecasts.
NEW YORK- Global shares slide more than 1 percent and the euro falls as a slew of weak U.S. corporate earnings results and credit rating downgrades of several indebted regions of Spain triggered a new round of fears over the global economy (MARKETS-GLOBAL/, moving shortly, by Angela Moon, 1,050 words).
*DuPont, 3 M, United Tech, UPS miss revenue forecasts. *DuPont, 3 M Co cut profit forecasts. DuPont and United Tech are by no means the only big U.S. companies to begin cutting jobs.
*DuPont drops sharply on results, UTX modestly lower. The latest string of disappointing results came from blue-chips DuPont and United Technologies, which operate around the world and in many industries. DuPont shares lost more than 8 percent, leading the Dow industrials lower.
United Parcel Service reported third-quarter earnings largely in line with market expectations on Tuesday, yet profits and revenues were weaker from a year ago amid a sputtering global economy.
WALLET, MEET PC: United Parcel Service Inc., the world's largest package delivery company, thinks online demand for gadgets will help its earnings this year, making up for slower shipments between businesses.
UPS said it predicts earnings of $4.55 to $4.65 per share, compared with its earlier forecast of $4.50 to $4.70. The new outlook indicates that earnings in the fourth quarter will exceed Wall Street expectations. For the three months ending in September, United Parcel Service Inc.' s net income fell 56 percent to $469 million, or 48 cents per share.
As more shoppers shift their spending online, FedEx is expecting to see a record volume of shipments over the holiday season.
Caterpillar Inc. reports quarterly financial results. Hasbro Inc. reports quarterly financial results. Peabody Energy Corp. reports quarterly financial results.
NEW YORK-- United Parcel Service Inc. is expected to offer a subdued view of the global economy when it reports its third-quarter results before the market opens Tuesday. Smaller rival FedEx Corp. said the same in September. Last month FedEx unveiled a plan to boost profit by $1.7 billion annually by shedding jobs, aircraft and underused assets.