Wall Street today: US stocks rise on Election Day, poll outcome uncertainty prevails | Stock Market News

US stocks rose on Tuesday, as investors awaited the outcome of the tightly contested presidential election and other potentially market-rattling events this week.

At the opening bell, the Dow Jones Industrial Average rose 40.9 points, or 0.10 per cent, to 41835.49. The S&P 500 rose 9.7 points, or 0.17 per cent, to 5722.43, while the Nasdaq Composite rose 70.7 points, or 0.39 per cent, to 18250.707.

Investors are concerned about the uncertainty about the election outcome as it may not be known for days or weeks as officials count all the votes.

Another potential factor for volatility, the Federal Reserve will be meeting on interest rates later this week.

Futures for the S&P 500 and the Dow Jones Industrial Average each rose 0.2 per cent before the opening bell.

Boeing shares gained by 0.1 per cent after its factory workers, who had been on strike, voted to accept the planemaker’s latest contract offer.

In the bond market, the yield on the 10-year Treasury rose to 4.31 per cent from 4.29 per cent late on Monday. 

Crude oil

Oil prices traded in a narrow range on Tuesday after rising more than 2 per cent in the previous session as OPEC delayed plans to hike production in December.

Brent crude futures were up 45 cents, or 0.6 per cent, to $75.53 a barrel by 1226 GMT, while US West Texas Intermediate crude was at $71.94 a barrel, up 47 cents, or 0.7 per cent.

Bullion

Gold prices were steady on Tuesday as market participants braced for the outcome of the US election.

Spot gold was little changed at $2,739.79 an ounce by 1231 GMT. US gold futures edged up 0.1 per cent to $2,749.20.

Spot silver rose 0.3 per cent to $32.58 an ounce.