Wall Street mourns, then stocks move up

NEW YORK (CNNMoney.com) -- Stocks moved higher Wednesday after the New York Stock Exchange observed a moment of silence for President Gerald Ford, who died Tuesday night at age 93.

The Dow Jones industrial average, Nasdaq composite and S&P 500 index all jumped posted modest gains in the early going. The NYSE delayed the start of trading by two minutes in honor of Ford.

In corporate news, Apple stock (Charts) tumbled more than 5 percent in early trade after The Recorder, an online publication of legal news Web site Law.com, reported stock option documents at the company were apparently falsified by company officials.

Also, the chairman of Toyota met with the chief executive of Ford but Japan's top automaker said they did not discuss the possibility of forming any alliance.

The Nasdaq will observe a moment of silence at 11 a.m. ET for Ford, who was the oldest surviving ex-U.S. president and the only president and vice president who was never elected to office.

Oil prices fell 22 cents to $60.88 a barrel.

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