Wall Street rallied on Tuesday as improved investor sentiment aligned with millions of Americans casting their votes for the 47th president.
Betting markets leaned slightly toward Donald Trump, with CFTC-regulated Kalshi placing Trump's win probability at 56% compared to Kamala Harris's 44%.
National polls show a close contest, with the latest New York Times/Siena College poll indicating both candidates tied at 48% in the popular vote.
The S&P 500 climbed 1.2%, while the tech-focused Nasdaq 100 surged 1.5%, marking its strongest one-day increase in nearly a month.
All 11 sectors of the S&P 500 experienced gains, with consumer discretionary stocks outperforming. Small caps also joined the rally, with the Russell 2000 index gaining 1.1%.
Palantir Technologies Inc. (NASDAQ:PLTR) led the S&P 500, with shares soaring after the artificial intelligence company surpassed quarterly earnings estimates and provided strong guidance.
In macroeconomic news, U.S. services sector activity hit over two-year highs in October, outperforming expectations.
Treasury yields increased by 5 basis points, while the dollar declined for a second consecutive session.
Gold edged up 0.3%, hovering near record highs, and oil prices gained 1.2% after a 3.2% surge on Monday.
Crypto sentiment was strong as well, with Bitcoin (CRYPTO: BTC) jumping 4.5% to over $70,000 and Dogecoin (CRYPTO: DOGE) spiking 12%.
Tuesday’s Performance In Major US Indices, ETFs
According to Benzinga Pro data:
Monday’s Stock Movers
Stocks reacting to earnings reports included:
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