NEW YORK - Wall Street stocks rose early on Tuesday , extending gains from the prior session, as voters headed to the polls in the culmination of a long and bitter US presidential campaign.The broad-based S&P 500 gained 1 per cent to 3,344.23, while the tech-rich Nasdaq Composite Index climbed 0.6 per cent to 11,027.65.
Political commentators have warned that the outcome of the race between President Donald Trump and former vice-president Joe Biden may not be clear tonight or even on Wednesday, depending on trends across key swing states and the speed with which votes, absentee ballots and mail-in ballots can be counted.
Polls give Biden an advantage, but there is also a chance Trump could pull out an upset win as he did in 2016. Monday's session came after Wall Street stocks suffered their worst week and month since March amid worries over rising coronavirus cases, new quarantines in Europe, the failure of Congress to enact stimulus spending and anxiety over possible election-related civil unrest in the United States.
"The rebound bid will persist at today's open, and there is enough political spin right now to make a case from any angle as to why the market now seems to be in a good mood despite not knowing anything specific about the election outcome," said Briefing.com analyst Patrick O'Hare.
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Source: BusinessTimes - 🏆 15. / 51 Read more »