The S&P 500 rose solidly on Tuesday as traders awaited the results from a high-stakes U.S. presidential election.
The broad market index gained 0.9%, and the Nasdaq Composite advanced 1.2%. The Dow Jones Industrial Average climbed 313 points, or about 0.8%.
The latest poll from NBC News suggests the race is "neck and neck" between former President Donald Trump and Vice President Kamala Harris. Close attention also remains on which party dominates Congress, given that a sweep by Republicans or Democrats could contribute to drastic spending changes or a big revamp of tax policy.
The results could have a significant effect on where stocks end the year, but investors may want to brace for some near-term choppiness. CNBC data going back to 1980 suggests the major averages gain between Election Day and the end of the year, but typically fall in the session and week after. Uncertainty over the results could lead to even more shakiness in the market.
Source: CNBC
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