Stocks posted their first monthly loss since May, after the markets reopened following a two-day closure due to Hurricane Sandy. Chicago PMI edged up in October to 49.9% from 49.7% in the prior month, but remained below the key 50% mark for the second straight month. Also, unemployment in the eurozone rose in September to a record high of 11.6% . Walt Disney fell 1.9% a day after the co. said that it will buy Lucasfilm Ltd. for $4.05 billion in cash and stocks. General Motors gained 9.5% on better-than-expected Q3 earnings. Ford Motor also added 8.2% after the co. reported solid profit margins Tuesday, when the stock market was closed. Also, housing, construction and industrial sectors were on the rise because these companies will likely benefit from the rebuilding that will follow in the Northeast after the hurricane. On the downside, Facebook fell 3.8% as the post-IPO lockup on about 229 million shares expired, making them available to the open market. Apple shed 1.4% as investors reacted to a management shake-up that included the impending departure of Scott Forstall, head of the iOS mobile platform. Meanwhile, Neflix rallied 13.9% after it was disclosed that investor Carl Icahn has acquired a 10% stake in the company. Also, this week brings data on jobless claims, the ADP national employment report and October jobs data.
