Wall Street posted solid gains on Election Day, sending the S&P 500 up 1.8%.
More than anything, what investors hope for is a clear winner to emerge relatively soon from the election. Whether that’s President Donald Trump or former Vice President Joe Biden is secondary. But if Biden wins, as polls suggest, the thought is that could open the door to a big support package for the economy, particularly if the Democrats also take control of the Senate.
Treasury yields also climbed Tuesday, and a gauge of investor fear in the U.S. stock market receded amid the widespread rally.
The S&P 500 rose 58.92 points, or 1.8%, to 3,369.16.
The Dow Jones Industrial Average climbed 554.98, or 2.1%, to 27,480.03.
The Nasdaq composite added 202.96, or 1.9%, to 11,160.57.
The Russell 2000 small-caps index climbed 45.70 points, or 2.9%, to 1,614.30.
For the week:
The S&P 500 is up 99.20 points, or 3%.
The Dow is up 978.43 points, or 3.7%.
The Nasdaq is up 248.98 points, or 2.3%.
The Russell 2000 is up 75.82 points, or 4.9%.
For the year:
The S&P 500 is up 138.38 points, or 4.3%.
The Dow is down 1,058.41 points, or 3.7%.
The Nasdaq is up 2,187.97 points, or 24.4%.
The Russell 2000 is down 54.17 points, or 3.2%.