U.S. stocks rose Tuesday as Election Day began, with investors settling in to wait to see whether Kamala Harris or Donald Trump will shape the economy as the next president.
The Nasdaq Composite, with a strong technological component (^IXIC) led the gains, up 0.5%, while the benchmark S&P 500 index (^GSPC) increased by around 0.3%. The Dow Jones Industrial Average (^DJI) open just above the flat line on the heels of a losing day for stocks.
The Americans are on the way to the polls with Harris and Trump neck and neck after an intensely contested presidential race. Investors are mobilizing to market volatilitybecause the outcome might not become clear for days or even weeks if the outcome is disputed.
Learn 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 the markets. But historically, while the lack of a clear victory has caused short-term turbulence, it has rarely stopped the long-term trend for gains.
The dollar (DX-Y.NB) and Treasury yields traded broadly flat after falling Monday as traders called back bet on a Trump victory. The greenback pushed slightly lowerwhile the yield of the benchmark 10-year Treasury index (^TNX) increased by approximately 1 basis point.
The Federal Reserve’s November policy decision is very close, and it also has a The stakes are high on election day. President Jerome Powell is a rate cut of 25 basis points is widely expected following the two-day meeting on Thursday.
Meanwhile, another big set of quarterly profits will arrive, with results from struggling AI server maker Super Micro Computer (SMCI) and Ferrari (RACE) on file.
The bitter seven-week strike at Boeing (B.A.) ended after factory workers voted for a new contract offering a 38% salary increase. Shares of the plane maker rose about 2% in early trading.
LIVE 3 updates
