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Dow, S&P 500, Nasdaq prepare for election day comeback
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Dow, S&P 500, Nasdaq prepare for election day comeback

US stocks rose on Tuesday as Election Day got under way, with investors settling to wait and see whether Kamala Harris or Donald Trump will shape the economy as the next president.

The highly technological Nasdaq Composite (^IXIC) led gains, up 0.5%, while the benchmark S&P 500 (^GSPC) increased by approximately 0.3%. The Dow Jones Industrial Average (^DJI) open just above the flat line on the heels of a loss day for stocks.

Americans are heading for the vote with Harris and Trump neck and neck after a hotly contested presidential race. Investors are gearing up for market volatilityas the result may not become clear for days or even weeks if the result is contested.

Read more: Yahoo Finance’s guide to the presidential election and what it means for your wallet

Given the huge difference in the positions of the candidates on the economy, a long wait for a declared winner could inject more uncertainty for markets. But historically, while the lack of a clear victory has brought short-term turbulence, it has rarely stopped the long-term trend for earnings.

The dollar (DX-Y.NB) and Treasury yields traded broadly flat after pulling back on Monday as traders returned bet on a Trump victory. The green dollar nudged slightly lowerwhile the benchmark 10-year Treasury yield (^TNX) ticked about 1 basis point higher.

Next up is the Federal Reserve’s November policy decision, which also has a lot in play on election day. Chairman Jerome Powell is it is overwhelmingly expected to bring a rate cut of 25 basis points at the end of the two-day meeting on Thursday.

Meanwhile, another big batch of quarterly earnings is due, with results from struggling AI server maker Super Micro Computer (SMCI) and Ferrari (RACE) on the file.

Bitter seven-week strike at Boeing (nay) ended after the factory workers voted for a new contract offering a 38% salary increase. Shares of the plane maker rose about 2 percent in early trading.

LIVE 3 updates

  • Alexandra Canal

    Stocks open higher on Election Day

    US stocks opened mostly higher on Tuesday as Election Day got underway. Markets are in wait-and-see mode when it comes to who will end up in the White House: Kamala Harris or Donald Trump.

    The highly technological Nasdaq Composite (^IXIC) led gains, up 0.5%, while the benchmark S&P 500 (^GSPC) increased by approximately 0.3%. The Dow Jones Industrial Average (^DJI) open just above the flat line on the heels of a loss day for stocks.

  • Jenny McCall

    Good morning. Here’s what’s happening today.

  • Brian Sozzi

    A good reminder for investors on Election Day

    Election day has arrived.

    And with it, all the typical ramblings about the results for the country, the world and the markets. Amidst the hot and heavy news flow, Truist Co-Chief Investment Officer Keith Lerner (who will be Opening offer podcast tomorrow at 8:00 ET with his post-election analysis) dropped the helpful chart below.

    I think it provides a good reminder that regardless of the outcome of the presidential election, it has paid dividends to be a stock investor over time.